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Saudi Aramco (ARAMCO:AB) plans to build a $10-billion refining and petrochemical complex in China, having a capacity of 300,000 barrels of crude per day, in order to take advantage of the country’s growing fuel and chemical demand. The project is to be completed by 2026. Read More.

WTI crude futures held around $73 per barrel on Tuesday after jumping more than 5% in the previous session as a legal dispute halted around 400,000 barrels a day of oil exports from the Ceyhan port in Turkey, tightening the market.

China logistics activity still trails the levels of the last two years, dragged down by continued weak overseas demand. Logistics remained around 20% below 2021 and 2022 levels, reflecting weak export demand that will continue to weigh on industries.  Fitch Ratings.

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