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According to the July monthly report released by the International Energy Agency (IEA), in the second quarter of this year, the operating rate of China's refineries rose year-on-year, and the crude oil processing volume in June hit a record high; the operating rate of US refineries fell sharply.
Wang Yanting, senior analyst at Jinlianchuang Refined Products, believes that China has taken the lead in controlling the epidemic globally and has achieved full resumption of work and production.
This time, China's crude oil processing volume surpasses the United States or is temporary, and it does not rule out the possibility of a rebound in the operating rate of US refineries.
But in the long run, it is the general trend that China's refining capacity surpasses the United States.
For China to become the world's largest oil refining center, opportunities and challenges coexist.
However, it should also be noted that China's domestic refining energy surplus is becoming heavier, and the overall refining industry is "large but not strong".
The future development of China's oil refining industry needs to improve its quality.
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