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OIL: China Teapot Run Rates Rise to 50% Capacity: OilChem

OIL

Independent oil refiners in Shandong raised run rates to the highest in four week at 50% of capacity in the week to Aug. 16, according to OilChem. 

  • Run rates are state-owned refineries remained unchanged in the week to Aug. 15 at 76.99% of capacity.
  • China’s commercial gasoline stockpiles rose to about 11.54m tons and commercial diesel inventories increased to 15.55m tons in the week to Aug. 15.
  • Chinese refiners processed the lowest volumes since October 2022 at 59.06m metric tons (13.91mbpd) of crude in July according to NBS data this week. China’s overall crude throughput is set to recover in August, Platts said last month.

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