China's Sinopec cuts Feb. daily refinery output 12% on virus demand hit: sources
SINGAPORE/BEIJING - China’s Sinopec Corp, Asia’s largest refiner, is cutting throughput this month by around 600,000 barrels per day as the rapidly spreading coronavirus hits fuel demand, four people with knowledge of the matter said on Monday.
Sinopec is closely monitoring the changing market situations and stands ready to ensure supplies, the refiner said in an email to Reuters. The four sources estimated cuts of about 2.5 million tonnes in total, equal to about 600,000 bpd on average, for February.
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