China Could Surpass U.S. as Top Refiner Next Year
According to the International Energy Agency, China is expected to overtake the United States as the largest refinery in the world as early as 2021. Asian economies have been rebounding from the effects of the coronavirus pandemic, and China is adding capacity as demand is building in that region. Due to the devastating effect from the coronavirus on demand, many countries around the world have been forced to reduce production and even completely shutter refineries altogether. One example of the hard choices being made globally includes how Royal Dutch Shell has very recently announced that it would shutter its Convent refinery in Louisiana. What is noticeable here is that this was a modern
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