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In Depth: Rush to Expand China’s Oil Refining Capacity Raises Specter of Supply Glut Heavy machinery pumps oil from an oilfield on Nov. 27 in Daqing, Northeast China’s Heilongjiang province. China’s oil refining capacity is growing rapidly, with projects involving tens of millions of tons of annual capacity scheduled to come online in the next few years, even as global giants cut back due to sluggish demand. This raises the prospect that the country’s refining industry could follow in the footsteps of other sectors, such as the steel industry, that have long grappled with the problem of oversupply and seen restrictions on new projects come into force.

Zhu fangUnited statesJoshua dummerXu donghaiWang hongqiuLu yutongHengli petrochemical coChemical industry federationSinopec instituteSinopec groupChina petrochemical corpKuwait national petroleum coChina petroleumRoyal dutch shellDevelopment research instituteChina association of automobile manufacturers