May 20, 2024 10:31 GMT
China’s CDU Rates Seen Rising This Week: OilChem
OIL
CDU capacity utilisation rates at China’s state-owned refineries are projected to rise in the week to May 23, according to OilChem.
- The increase is driven by restarts at several refineries following the end of planned maintenance.
- Among Teapots in Shandong Province, CDU rates are seen stable as some refineries go offline for maintenance, while Jincheng Petrochem raises production.
- CDU capacity utilisation rates at domestic refineries averaged 68.57% during the previous week, down 0.51 percentage points. This was the result of extensive refinery maintenance.
- Overall gasoline and gasoil demand is likely to stay muted as market participants take a wait-and-see approach amid expectations that the government will lower the refined oil guide prices.
Source: OilChem
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