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China: Total Crude Available Exceeds Import Volumes April

REFINING

High refinery processing rates exceeded crude import volumes into China in April – the first time in 18 months.

  • The volume of crude available to refiners from imports and domestic output in April was equivalent to 14.53 million bpd, versus run rates of 14.87mn bpd.
  • For April, the total amount of crude available was 340,000 bpd below the volume processed by refiners, the first time since November 2021 that refiners have drawn on inventories.
  • May figures may indicate whether this is a longer-term trend or an anomalous event.



source: Refinitiv

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