OPEC wrestles over oil output while top importer's demand is in peril
China Petroleum & Chemical Corp., the world's top oil refiner, will process about 1 million metric tons a month less than previously projected for the period June to August. This comes alongside OPEC's weakened resolve to maintain output costs.
BY BLOOMBERG NEWS
Oil bulls grappling with OPEC's weakened resolve to curb output are also having to worry about waning demand in the world's biggest buyer of overseas crude.
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