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China’s Crude Oil Storage Rates Rise on Week: OilChem

OIL

China’s crude oil storage capacity utilisation rate stood at 58.56% as of Jan. 3, according to OilChem, up 1.33 percentage points on the week.

  • Meanwhile, China’s crude oil and bitumen mixtures storage capacity utilisation rate averaged 61.09% as of Jan. 3, a rise of 1.38 percentage points on the week, but down 1.9 percentage points on the year.
  • At Shandong’s independent refineries, the crude oil storage capacity utilisation rate averaged 43.85% as of Jan. 3, down 0.04 percentage points on the week.
  • Shandong independent refineries received 1.2m mt of imported crude oil into its ports between Dec. 25-31, down 52.5% from the previous week, according to OilChem.

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