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China Refinery Runs Slip for Third Month in July

REFINING

China’s refinery output slipped 3.7% y/y in June, dropping for a third straight month on planned maintenance and weak margins.

  • Chinese refiners processed 58.32 million metric tons of crude oil in June, data NBS data showed, equivalent to 14.19 mn bpd and the year's lowest levels so far.
  • Refining output for the first six months was 360.09 million tons, or 14.44 mn bpd – down 0.4% y/y.
  • Shandong refinery operations sat at 51% of capacity in June according to OilChem, down from 61% y/y.

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