Sinopec's Jan-Sept profit down a third on lower oil, weaker fuel sales

Core Viewpoint - Sinopec reported a 32% year-on-year decline in net income for the first three quarters, attributed to lower oil prices and weaker fuel sales [1] Company Summary - Sinopec's net income for the first three quarters decreased significantly by 32% compared to the same period last year [1] - The decline in net income is primarily due to the impact of lower oil prices [1] - Weaker fuel sales also contributed to the overall decrease in profitability [1] Industry Summary - The oil and fuel industry is experiencing challenges due to fluctuating oil prices [1] - Weaker demand for fuel is affecting major players in the industry, leading to reduced revenues [1]