China’s private refiners grab barrels as they prepare to ramp up

LONDON: Chinese independent oil refiners returned to the physical crude market in recent weeks, aiding a recovery in Asian demand after a government crackdown on the sector had spurred buyers to scale back activity.

Some private processors, including China National Chemical Corp and Sinochem Hongrun Petrochemical Co, picked up cargoes of Norway’s Johan Sverdrup and Russian ESPO crude for October to December delivery, according to traders.