Sinopec to Reduce Crude Throughput Amid Middle East Conflict
Sinopec will cut crude processing by over 10 percent this month due to Middle East supply gaps. The refiner is prioritizing fuel output over petrochemicals.
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SINOPEC KANTONS HOLDINGS, the world's largest refiner by capacity, is planning to reduce its crude throughput by more than 10% this month. This decision comes as a direct response to a significant supply gap triggered by escalating conflict in the Middle East. Sources in Singapore indicate that the state-owned giant, which represents one-third of the total refinery output in China, is adjusting operations as Beijing moves to mitigate disruptions caused by Iran's blockade of the Strait of Hormuz, a critical conduit for 20% of global oil.
