China Eases Tight Diesel Market as Producers Boost Output: CCTV
- CNPC, Sinopec implement measures to increase supply: report
- Beijing seeking to avert fuel crunch after coal, gas squeeze
Photographer: Song Jie/Xinhua/Getty Images
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China has “effectively eased” its tight diesel market after two top producers increased supply under government coordination, according to a report on Sunday from the nation’s state-run broadcaster CCTV.
China National Petroleum Corp. and China Petroleum & Chemical Corp., better known as Sinopec, have increased diesel output through a number of measures including ramping up processing rates, according to the CCTV report posted on the official Wechat account of National Development and Reform Commission.