You are here

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

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-...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to