BEIJING, Sept 8: China’s top oil refineries will cut operation rates by more than three per cent this month from August, amid heavy late-summer plant maintenance that may help refiners to trim losses but that threatens to squeeze fuel supplies. The reduction was the third monthly drop in a row, with run rates now down seven per cent from their record in June, and may force refiners to deepen cuts in fuel exports while raising imports of gasoline after surprise purchases in recent weeks.—Reuters
