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OIL
CDU capacity utilisation rates at China’s state-owned refineries are expected to continue falling in the week to April 18, according to OilChem.
- This is due to CDU maintenance work at the Zhenai and Jianzhou refineries.
- For independent refineries in Shandong, the CDU capacity utilization rates are estimated to fall as some units are cutting production due to persistent low refining profits.
- CDU utilisation rates of domestic refineries averaged 70.41% in the previous week, down 0.94 percentage points.
- Run rates at state-owned and independent refineries both fell as refinery profits narrow, and overhauls take place.
- The overall gasoline demand is expected to rise due to stockpiling from petrol stations amid an upcoming rise in guide retail prices.
- Demand for gasoil is expected to remain resilient with end-market demand improving.
Source: OilChem
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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