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China’s CDU Capacity Utilisation to Continue Falling this Week: OilChem

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CDU capacity utilisation rates at China’s state-owned refineries are projected to keep falling in the week to April 25, according to OilChem.

  • This is due to maintenance beginning at the Zhenai refinery.
  • At Independent refineries in Shandong, CDU utilisation rates are estimated to tick up slightly, as the Shandong Haihua refinery plans to lift production.
  • Capacity utilisation rates at domestic refineries averaged 69.75% the previous week, down 0.66 percentage points from the prior seven days amid extensive overhauls.
  • Gasoline demand is expected to weaken as stockpiling for the labour day holiday end.
  • Demand for gasoil is likely to be robust as warmer weather facilitates outdoor construction projects.

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CDU capacity utilisation rates at China’s state-owned refineries are projected to keep falling in the week to April 25, according to OilChem.

  • This is due to maintenance beginning at the Zhenai refinery.
  • At Independent refineries in Shandong, CDU utilisation rates are estimated to tick up slightly, as the Shandong Haihua refinery plans to lift production.
  • Capacity utilisation rates at domestic refineries averaged 69.75% the previous week, down 0.66 percentage points from the prior seven days amid extensive overhauls.
  • Gasoline demand is expected to weaken as stockpiling for the labour day holiday end.
  • Demand for gasoil is likely to be robust as warmer weather facilitates outdoor construction projects.

Keep reading...Show less