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OIL PRODUCTS: China’s CDU Capacity to Rise on Week: OilChem

OIL PRODUCTS
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CDU capacity utilisation rates at China’s state-owned refineries are expected to rise in the week to Jan. 9 according to OilChem, as Wuhan Petrochem is yet to reach full capacity after resumption.

  • Among independent refineries in China’s Shandong province, CDU capacity utilisation rates are estimated to edge down as a refinery in Shandong plans to suspend production amid a lack of feedstock.
  • CDU capacity utilisation rates at domestic refineries in China averaged 67.62% last week, up 0.21 percentage points on the previous seven-day period.
  • Rates at state-owned refineries were stable last week, while rates at teapots rebounded as some lifted their production scheduling in the new year.
  • China’s gasoline demand is projected to remain firm on busier travelling ahead of the Chinese New Year holiday.
  • Gasoil demand will sag further in the seasonal low amid an absence of bullish factors.
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Source: OilChem
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CDU capacity utilisation rates at China’s state-owned refineries are expected to rise in the week to Jan. 9 according to OilChem, as Wuhan Petrochem is yet to reach full capacity after resumption.

  • Among independent refineries in China’s Shandong province, CDU capacity utilisation rates are estimated to edge down as a refinery in Shandong plans to suspend production amid a lack of feedstock.
  • CDU capacity utilisation rates at domestic refineries in China averaged 67.62% last week, up 0.21 percentage points on the previous seven-day period.
  • Rates at state-owned refineries were stable last week, while rates at teapots rebounded as some lifted their production scheduling in the new year.
  • China’s gasoline demand is projected to remain firm on busier travelling ahead of the Chinese New Year holiday.
  • Gasoil demand will sag further in the seasonal low amid an absence of bullish factors.
image
Source: OilChem