B · Normal
[Crude oil procurement costs continue to rise, and local refining begins defensive supply contraction] On September 18, the cost of crude oil continued to rise, and various oil types generally entered a large premium range, which restricted the ordering enthusiasm of local refining and tightened the supply of raw materials. Recently, some refineries have begun defensive production cuts to save raw materials. Based on the current tight supply of crude oil, if the subsequent supply pattern is still difficult to improve, it is expected that Shandong's local refining operating rate will enter a downward channel starting from late September. (Longzhong Information)
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