Chinese refiners have increased their crude oil purchases ahead of year-end as they expect higher fuel exports in the final months of the year.

Corresponding BloombergChinese companies have bought at least 10 million barrels of crude over the past week, mostly from the Middle East, West Africa and Brazil, suggesting the demand situation has been changing for the better.

One of the main reasons for this demand optimism is the global shortage of diesel. A decline in global refinery…

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