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China’s State-Owned Refinery Runs Highest Since 2021

OIL PRODUCTS

China’s state-owned refinery run rates rose 1.4 ppt to the highest in data recorded since Nov 2021 at 83.12% of capacity according to Bloomberg based on OilChem data.

  • Gasoline inventories increased +2.9% w/w to 13.1m tons in the week to 7 Sep from the lowest in figures dating back to July 2019 the previous week.
  • Diesel stockpiles also increased by +1.6% w/w to 16.8m tons.
  • Teapots in Shandong province cut runs slightly to the lowest level since July 21 by 0.09 ppt to 60.5% of capacity.

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