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China’s CDU Capacity to Fall on Week: OilChem

OIL PRODUCTS
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CDU Capacity Utilisation rates at China’s state-owned refineries are expected to continue falling in the week to June 6, according to OilChem, as Sinopec and CNPC plan to cut daily throughput.

  • Among independent refineries in China’s Shandong province, CDU capacity utilisation rates are estimated to fall further with several refineries expected to begin maintenance.
  • CDU capacity utilisation rates at domestic refineries in China averaged 70.15% last week, up 0.98 percentage points on the previous seven-day period.
  • China’s gasoline demand is likely to increase in the coming days as rising temperatures lift vehicle air conditioning use.
  • Gasoil demand is seen as flat, with a rainy season in the southern part of China pressing on demand.

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CDU Capacity Utilisation rates at China’s state-owned refineries are expected to continue falling in the week to June 6, according to OilChem, as Sinopec and CNPC plan to cut daily throughput.

  • Among independent refineries in China’s Shandong province, CDU capacity utilisation rates are estimated to fall further with several refineries expected to begin maintenance.
  • CDU capacity utilisation rates at domestic refineries in China averaged 70.15% last week, up 0.98 percentage points on the previous seven-day period.
  • China’s gasoline demand is likely to increase in the coming days as rising temperatures lift vehicle air conditioning use.
  • Gasoil demand is seen as flat, with a rainy season in the southern part of China pressing on demand.

Keep reading...Show less