Refineries Loom Over With Record Oil Product Exports

Chinese refineries are battling weak profit margins from the slump in fuel demand.
It is caused by lockdowns aimed at containing the coronavirus pandemic.
China’s refineries processed the equivalent of 13.1 million bpd in April.
Modern, low-cost refineries show fuel exports at a record-high 8 million tonnes in April.
China exported 1.72 million bpd of refined products, up 15.1% from the same period in 2019.
The margin for gasoil ended at a profit of $3.45 a barrel on May 15 just over $12.79...