China’s ‘teapot’ oil refineries keep economy brewing – but surging crude prices leave them strained
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<p>The factories, which buy cheap crude and turn it into fuel, are struggling as higher oil prices threaten their razor-sharp margins </p><p>The towns that are the bulwark of China’s energy security can, at a moment of <a href="https://www.theguardian.com/world/2026/mar/23/iran-war-energy-crisis-1970s-oil-shocks-fatih-birol-iea">global crisis</a>, appear deceptively quiet. Trucks carrying oil trundle along wide-open highways that have little traffic, while a few boa
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<p>The factories, which buy cheap crude and turn it into fuel, are struggling as higher oil prices threaten their razor-sharp margins </p><p>The towns that are the bulwark of China’s energy security can, at a moment of <a href="https://www.theguardian.com/world/2026/mar/23/iran-war-energy-crisis-1970s-oil-shocks-fatih-birol-iea">global crisis</a>, appear deceptively quiet. Trucks carrying oil trundle along wide-open highways that have little traffic, while a few boa
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