Asian Refiners Consider Output Cuts on Cost Surge ...Middle East

OILPRICE - Economy
Asian Refiners Consider Output Cuts on Cost Surge
source : OILPRICE ( Middle East ) () 57
Asian refiners are considering a reduction in run rates due to the hike in crude oil prices following the latest U.S. sanction push against Russia, which prompted Chinese and Indian importers to rush to buy non-Russian crude. Citing trading sources, Bloomberg reported that the effect of the sanctions in crude oil prices in Asia has been so pronounced that in some cases it has pushed refining margins below zero. Most of the refiners affected by the ripple effect of the sanctions were in South Korea, Singapore, and Taiwan, the report noted, and normally…

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