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Refineries around Asia join Chinese peers in ramping up oil output
SEOUL/BANGKOK/SINGAPORE : Refineries from India to South Korea are expected to increase output from June, joining their Chinese counterparts as the easing of lockdown measures boosts demand for oil products, industry executives said.The average operating rate for refineries in Asia is expected to rise to 75.5% and 82.2% in the third and fourth quarters, respectively, from 72.4% in the second quarter out of total capacity of about 35 million barrels per day, according to energy consultancy FGE.Refineries in countries such as India, South Korea, Japan, and Thailand are also expected to pick up the pace of processing the cheap crude they purchased in recent months as economies begin to reopen and demand for oil returns.Brent crude prices fell