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China's Refiners Cut Run Rates to Lowest Since Late Feb

OIL

China’s state and independent refiners cut run rates in the week to April 18 to 77.82%, the lowest level since February 29, according to OilChem.

  • Refinery runs at Chinese teapots in Shandong province increased to 54.76% of capacity and the highest since February 23.
  • Commercial diesel inventories rose by 1.4% last week to the highest since March 28 at 16.9m tons. Gasoline stockpiles rose by 3.5% week on week to 11.3m tons after a six-week decline.
  • State-owned refiners in China will reduce processing volumes about 2.4% on the month to 41.38m mt in April, according to OilChem earlier this month.
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