Shandong’s Teapot Refineries: Modest Rise in Crude Oil Imports

The initial week of 2024 witnessed Shandong's independent refineries, pivotal players in China's petrochemical sector, reporting a 0.5% increase in imported crude oil volume. Examining data from key coastal ports, including Huangdao, Dongjiakou, and Lanshan, the article delves into factors influencing this rise, including market dynamics, domestic demand, and the government's strategic measures.