China Becomes Net Exporter of Oil Products over January-November

Decline driven by 11% month-over-month drop in naphtha prices

Fell 19.4% from previous month on high inventories, but downtrend stemmed by KOGAS buying

Exclusive Report from 5-day Tour, Executive Interviews, at Shandong "Teapot" Refineries

Naphtha price drop expected to put pressure on margins of shale-based production