Looming petrol glut, rampant crude output threaten price rebound
Big gasoline importers China and Japan are flipping to exports; margins in Singapore halve as stocks rise
Tue, Apr 26, 2016 - 5:50 AM
In China, the rise of independent refiners has driven exports of petrol and diesel as refineries churn out more fuel than even fuel-thirsty China needs.
A REBOUND in oil prices this year from 12-year lows is in danger of coming to a crashing halt, as the main engine of global demand growth for the past several years starts to sputter amid signs of a gasoline glut.
Crude oil has rallied more than two-thirds from its mid-...