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China’s State Refiners’ Throughput to Fall in April: OilChem

OIL

State-owned refiners in China will reduce processing volumes to 41.38m mt in April, according to OilChem, cited by Bloomberg.

  • This is equivalent to around 10.11m b/d, down around 2.4% on the month when looking at daily processing, based on Bloomberg calculations.
  • This represents a fall of 5.6% on the year, as CDU utilisation rates across the month are forecast to fall to 78.15%, breaking three consecutive months of increases.
  • Gasoline yields are set to rise 1.1 percentage points on the month to 23.55%, while diesel yields will rise 0.33 percentage points to 25.86%.
  • Seven refineries in China will shut units for maintenance in April, this is up from three in March.
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