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Chinese Refineries to Boost Refinery Volumes May: OilChem

REFINING

Chinese refiners are set to boost runs in May to their highest since 2021 according to OilChem.

  • A total of 67 surveyed state-run refineries are planning to process 41.8m tons of crude oil in May.
  • The volume is set to climb 2.23% m/m, although overall run rates will dip 0.82% m/m to 76.27%
  • Ten plants will be undergoing maintenance this month, compared with six in April, affecting 41.85m tons of capacity - 600k tons higher than April.
  • OilChem forecasts that Chinese gasoline and diesel demand is set to weaken this month.

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