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Tue · 03 Nov 2026

Sinopec Posts 19% Profit Jump Despite Iran War and Falling Demand

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Sinopec Posts 19% Profit Jump Despite Iran War and Falling Demand

🏭 BEIJING — China's largest refiner is profiting from the war, not bleeding from it. 📌 LOOK CLOSER: Sinopec buying discounted Iranian crude below market while Hormuz-starved competitors pay $93+ Brent. Bessent's Monday sanctions target exactly this arbitrage. But a 19% profit surge gives Beijing a concrete economic interest to resist — and Sinopec data lands as political ammunition against compliance.

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