China’s Refineries Run Rates At 10-Month Low

15 Aug 2017   China

At 10.71 million bpd, China’s crude refineries saw in July their lowest daily throughput rate since September last year as state firms and independent refineries, both swimming in inventory, continue to duke it out with price as their weapon. According to data released by China’s National Bureau of Statistics (NBS) on Monday, reported by Reuters , China processed 10.71 million bpd of crude in July—500,000 bpd lower than the throughput in June. But between January and July, Chinese refinery production increased by 2.9 percent annually to 320.7 million tons, equal to a rate of 11.04 million bpd, Reuters reports, as per official statistics data. In June, Chinese refineries had processed 11.21 million bpd of crude oil, up by 2.3 percent on the year and the second-highest daily processing rate on record. The highest daily rate was hit last December, when refineries processed 11.26 million bpd. However, state refiners have […]

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