China Petroleum & Chemical Corp. (SNP), one of China's largest energy companies, is facing a challenging outlook. China's economy has been cooling and the trade war with the US has heaped more pressure on the country. The economic slowdown will hurt the demand for oil products. We have seen some fresh signs of weakness. This could weigh on China Petroleum and Chemical Corp.'s profit margins and net income.
Image courtesy of Pixabay
The state-owned China Petroleum and Chemical Corp., commonly known as Sinopec, is the second-largest vertically integrated energy company in China. Sinopec