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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.
OIL PRODUCTS
China’s independent refineries’ gasoline and gasoil production is estimated to reach 3.80m mt and 7.4m mt respectively in July, according to OilChem.
- This puts gasoline production up 3.24% on the month, but down 12.57% on the year.
- Gasoil production is up 1.29% on the month and down 1.38% on the year.
- Production is stable in July amid little change in refining profits. There is a drop on the year because refineries ramped up production in 2023 to meet robust consumption.
- Crude throughput at the Teapots was up 2.1% on the month to 19.62m mt in June. However, this is down 11.5% on the year.
- CDU utilisation rates averaged 56.11% in June, down 0.69 percentage points on the month and 7.3 percentage points lower year-on-year.
- CDU rates are expected to remain low at independent refineries due to narrow profits and stagnant demand.
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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