Chinese state - run gasoline refineries cut run rates to 83 % of capacity in November in a bid to tackle its oversupply issue . A combination of high domestic production , atypically low winter demand , and too few export opportunities , has led to large gasoline shortages , forcing refiners to cut runs at a time when they would usually be full . The cut represents a 2 % rate drop from October and , despite refineries like PetroChina Guangxi raising November 's exports by 10 % from October levels , producers are still looking to reduce run numbers in favour of raising gasoil yields .
Chinese state-run gasoline refineries cut run rates to 83% of capacity in November in a bid to tackle its oversupply issue. A combination of high domestic production, atypically low winter demand, and too few export opportunities, has led to large gasoline stockpiles, prompting refiners to cut runs at a time when they would usually be increased. The cut represents a 2% rate drop from October and, despite refineries like PetroChina Guangxi raising November's exports by 300% from October levels, producers are still looking to reduce gasoline numbers in favour of raising gasoil yields.