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China's independent refiners cut output in May as losses mount, sources say

By Reuters May 12, 2026 Bearish
China's independent refiners cut output in May as losses mount, sources say
Some independent refiners in China's eastern province of Shandong are cutting ​fuel output on crumbling margins after the Iran war drove up crude costs as they battle weak domestic ‌demand and excess products, trade and refining sources said.
Some independent refiners in China's eastern province of Shandong are cutting ​fuel output on crumbling margins after the Iran war drove up crude costs as they battle weak domestic ‌demand and excess products, trade and refining sources said.