Data revealed that China has removed the United States from the forefront of the global oil refining market, and this comes at a time when Beijing is betting on gasoline and diesel fuel.

According to official government data in China, oil refining increased in the country last October by 2.5%, reaching a record level of 14.09 million barrels per day, while it reached 13.5 million barrels in the United States last September.

Media reports indicate that China does not intend to stand at this level, as it plans to open two new oil refineries by the end of next year, and according to a report issued by the International Energy Agency, the opening was expected to happen in 2023.

China also plans to build 4 new refineries with a production capacity of 1.2 million barrels per day, and Beijing seeks to meet the growing demand for gasoline and diesel fuel.

The global demand for fuel in the world declined during the current year due to the Coronavirus epidemic, which affected oil production and refining in various countries of the world.

Source: Novosti

By:Nadeemy Haded See Less