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China Teapots Cut Rates to Lowest Since April 2022

REFINING

China’s independent refiners in Shandong cut run rate to the lowest since April 2022 to 51.88% in the week to June 14, according to OilChem.

  • State-owned refiners reduced rates to the lowest since December 2023 at 74.28%.
  • Commercial diesel inventories rose to the highest in five weeks at 16.38m tons and gasoline stockpiles rose back to 11.47m tons.

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