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OIL: China Crude Processing to Rise to 69.6% in August: OilChem

OIL

Crude processing rates at China’s state and independent oil refiners may increase to 69.6% of capacity in August up from 69.4% expected in July, according to OilChem cited by Bloomberg.

  • Gasoline yields at state refiners may fall to 24% following growth for the last four months, but jet fuel yields are expected to rise to a record 12.4%.
  • Gasoline consumption in the second half of 2024 will be impacted as car trade-ins increase while diesel is expected to enter peak season.

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