October 10, 2023 08:46 GMT
China Onshore Crude Inventories Slipping: Vortexa
Chinese onshore crude inventories have been drawing lower since late July according to Vortexa figures.
- Higher volumes have come out of onshore stocks as prices on global markets have risen while helping to sustain a strong refining backdrop.
- See Vortexa chart for onshore stockpiles.
- Third batch China oil product export quotas released early Septmber are expected to support strong China refinery runs through October.
- China’s fourth batch of crude import quotas for non-state owned refiners totalled 9.54m mt – below expectations according to OilChem Monday.
- Exports of refined products from China in September are estimated to have been 4.01mn mt, up 28% m/m.
Keep reading...Show less