China’s oil refining capacity increased to 936 million tons by the end of 2023, ranking first in the world. This has been reported report China National Petroleum Corporation (CNPC).
In China, crude oil production in 12 months was 200 million tons and consumption was approximately 756 million tons. At the same time, China needed 399 million tons of mineral oil in 2023. This is 9.5% higher than the previous year.
The other day BCS World of Investments stock market expert Anna Kokoreva guess Oil prices in March. According to their forecasts, the price of the North Sea benchmark Brent will remain in the range of 80-85 dollars per barrel. The analyst also reminded that according to the Russian government’s plans, the discount between Russian Ural oil and Brent oil should be 15 dollars in 2024.
Before recognizedG7 countries plan to tighten the price limit for Russian oil.
Previously Bulgaria stopped Oil imports from Russia.