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Chinese Refinery Plan Run Increase of up to 10%

OIL

Chinese state oil refineries are considering increasing runs by up to 10% from September to October according to Reuters.

  • Refiners are expecting China to increase fuel export quotas by up to 15m tonnes this year as the country attempts to boost the economy.
  • A state refinery official said his plant is eyeing a 10% increase. "We're raising runs next month in preparation for a possible opening in exports, though nobody has a clear idea how big the opening would be," the official said. Another refinery is planning an 8% increase through stating this is due to firmer domestic demand.
  • Average refining rates at state refineries had climbed to 73.74% last week, up 2.56% from August, according to Chinese brokerage SHZQ Futures.
Energy BulletsCommodities
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