China’s Private Refiners Seek Beijing Approval to Cut Run Rates

AI Summary

China's private refiners are seeking approval from the government to reduce oil-processing rates, following a prior directive from Beijing to maintain production for domestic fuel security. This move highlights the ongoing tension between government mandates and market conditions in the energy sector.

China’s private refiners have sought government approval to cut oil-processing rates, a month after Beijing ordered them to produce at any cost in order to secure domestic fuel availability.