China’s Independent Oil Refiners Slash Runs to Nine-Year Low

China's independent oil refiners have cut their operational rates to the lowest level in nine years, signaling the ongoing disruptions caused by the US-Iran conflict. These refiners, which are crucial to the country's oil processing capacity, are struggling due to both economic pressures and geopolitical tensions affecting the import of Iranian crude. This reduction in refining activities underscores broader concerns about global oil supply stability and could have ripple effects on China’s economic growth and energy security.