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OIL
CDU utilisation rates at state-owned refineries are projected to continue falling in the week to April 11, according to OilChem.
- The fall is driven by maintenance at CDUs at the Dalian and Dongfang refineries.
- Among Shandong’s teapots, CDU capacity utilisation is estimated to fall due to poor refining profits.
- Gasoline demand is expected to return to normal following the end of the Qingming festival.
- Gasoil demand will remain resilient with rising outdoor construction projects in North China. This is despite hindered production in southern China due to the rainy season.
- Looking at the previous week, CDU utilisation rates in China’s domestic refineries averaged 71.35%, down 0.95 percentage points on the week.
- Run rates were stable at state-owned refineries, while teapots saw rates fall.
Source: OilChem
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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