China's refiners will post low profits this year due to weak domestic demand and higher costs, as the country's new oil-product pricing system provides littles solace, refining sources told International Oil Daily in Beijing last week. The fuel price reforms, announced on Mar. 26, were widely anticipated and welcomed by refiners, which have had to contend with poor margins for two years (IOD Mar.28'13). But they still do not reflect the supply- demand picture in China, the sources said on the sidelines of the China Oil Trading Conference.
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