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OIL PRODUCTS
China’s independent refineries’ combined gasoline and gasoil production will fall again in June for the third consecutive month, according to OilChem.
- Gasoline production is seen down 7.24% on the month at 3.68m mt, while gasoil production is down 4.68% to 7.26m mt.
- Collectively, gasoline and gasoil production at independent refineries was likely down by 2.94% on the year at 33.71m mt in Q2, amid intensive maintenance.
- A total of 15 teapots were overhauled in June, idling 3.57m mtpa of capacity.
- Crude throughput in June is seen at 32.4m mt, down 5.35% on the month in a decline of 8.07% on the year.
- China’s combined gasoline and gasoil demand are also seen down 4.34% on the year to 32.4m mt in June.
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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