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OIL: China State Refiners Cut Run Rates to Lowest Since mid December

OIL
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China’s state refiners cut run rates in the week to May 16 to 75.57%, the lowest level since mid December, according to OilChem.

  • Refinery runs at Chinese teapots also fell to 54.89% of capacity and the lowest since April 19.
  • Commercial diesel inventories fell by 2.6% last week to the lowest since Feb. 8 at 16.3m tons. Gasoline stockpiles rose to 11.66m tons to the highest since April 25.
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China’s state refiners cut run rates in the week to May 16 to 75.57%, the lowest level since mid December, according to OilChem.

  • Refinery runs at Chinese teapots also fell to 54.89% of capacity and the lowest since April 19.
  • Commercial diesel inventories fell by 2.6% last week to the lowest since Feb. 8 at 16.3m tons. Gasoline stockpiles rose to 11.66m tons to the highest since April 25.