China diesel squeeze persists as oil tops $93

China’s worst diesel rationing in four years may last several more weeks as record oil prices choke output from independent refineries and the top suppliers show no rush to top up imports, industry officials said on Monday.

Although China’s big state refiners have made minor cuts in output to trim deepening losses, lower production from small refineries — supplying up to 15 percent of the world’s second-larget oil market — has triggered a squeeze on supplies, and may take weeks if not months to recover.

Reuters