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Limited refining expansion, high prices cloud China's 2021 crude import outlook


Limited refining expansion, high prices cloud China’s 2021 crude import outlook
China will witness a positive growth in crude oil imports in 2021, albeit at a slower pace compared with 2020, as a sharp rebound in global oil prices and limited capacity expansion plans at home will limit the appetite of Asia’s biggest oil consumer to buy and maintain plentiful inventories.
Analysts told S&P Global Platts that China may not be able to repeat last year’s stellar year-on-year import growth of 7% when the COVID-19 pandemic destroyed demand across the globe and pulled down prices to record lows, giving top oil importers like China an opportunity to snap up as many cargoes as possible and store it for future use. ....

Yu Huang , Shouguang Lianmeng , Zhejiang Petroleum Chemical , Platts Analytics , Luoyang Petrochemical , Zhongke Petrochemical , Sinochem Quanzhou , Zhejiang Petroleum , Zhonghai Fine Chemical , Yuhuang Petrochemical , யூ ஹுவாங் , ஜெஜியாங் பெட்ரோலியம் இரசாயன , ஜெஜியாங் பெட்ரோலியம் ,