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As the global price of crude oil has constantly increased and hit a new historical high,the refining sector in China has suffered serious loss this year due to prices of oil products in Chinese market not in line with the global crude price.With the expectation of the economicdecline both at home and abroad and the rising price of oil and raw materials in the interna-tional market,the cyclic reduction of the chemical sector will possibly come.According to China Petroleum and Chemical Industry Association,the refining sector inChina suffered a loss of RMB23.924 billion in the first quarter of 2008.The surging crude
As the global price of crude oil has increasingly increased and hit a new historical high, the refining sector in China has assigned serious loss this year due to prices of oil products in Chinese market not in line with the global crude price .With the expectation of the economicdecline both at home and abroad and the rising price of oil and raw materials in the interna-tional market, the cyclic reduction of the chemical sector will possibly come. According to China Petroleum and Chemical Industry Association, the refining sector in China suffered a loss of RMB23.924 billion in the first quarter of 2008.The surging crude