China’s Curbs to Excess Refining Capacity Could Take Years

OilPrice · Tsvetana Paraskova · last updated September 9, 2025 – 5:27 AM

It could be years until China sees the results of the ongoing push to curb excess refining capacity and tackle price wars and disorderly competition, one of the biggest independent producers, Rongsheng Petrochemical Co., Ltd, has warned. China started this year to pay attention to the overcapacity in many key industries, including refining, petrochemicals, solar equipment, and EV manufacturing. Chinese authorities have realized that cutthroat competition, overcapacity, and low-quality manufacturing are hurting enterprises…

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