Chinese oil refiners are churning out record amounts of fuel in the last quarter of 2017, looking to cash in on the best refining profits in nearly two years after a rally in diesel and gasoline prices. Officials at five state-owned oil processors said they are refining and shipping as much product as possible after receiving generous export quotas. That is creating a domestic shortage that China’s independent refiners – often called teapots – are rushing to meet, while also raising their output to profit from a hike in state-controlled gasoline and diesel retail prices. Sponsored “With major oil companies ramping up exports to use their additional quota, regions such as northeastern provinces showed tightness, giving teapots more space to sell their products […]