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Chinese Refinery Throughput Rose to New Record in 2023

OIL

China’s oil refinery throughput rose to a new record last year of 734.78mn tons, or 14.76mbpd, up by 9.3% on the year, according to government data, cited by Bloomberg.

  • Oil processing in December rose by 1.1% on the year to 60.11mn tons.
  • China’s apparent oil demand increased by 10.67% year on year to 14.42mbpd in 2023. Apparent demand last month reached 14.24mbpd, up by 8.6% on the year.

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