Oil Prices And Natural Gas Prices Jump On Supply Fears

Oil Prices And Natural Gas Prices Jump On Supply Fears

China Refinery Runs Fell To 15-Month Low In August Tightening U.S. oil supplies and… North Dakota has been hit… Refinery runs in China fell to the lowest in 15 months in August on the back of a sizeable cut in fuel export quotas and the latest wave of Covid-19, Reuters reports, noting that average daily throughput stood at 13.74 million bpd. The decline in refinery run rates comes amid a government crackdown on independent refiners—the so-called teapots. These teapots have come to account for a considerable portion of oil imports and fuel exports, which have contributed to a regional fuel glut that pushed down refiners' margins. Beijing moved has involved investigations into alleged violations of environmental legislation and tax avoidance. The government also ordered state oil majors to stop trading …
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