Private Chinese refiners are requesting Beijing to reduce rates of oil processing as they are being pressured amid higher input costs brought by the Middle East war, Bloomberg News reported Monday, citing insiders.
The request was made a month after the National Development and Reform Commission released an order that refiners should retain production at 2025 levels at any cost to ensure the availability of domestic fuel, the report said.
The order caused run rates in April to hike to the highest in almost two years, while processors are incurring losses, according to the media outlet.
The NDRC has not immediately responded to' request for comment on the matter.
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