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Run Rates at China Teapots Edge up from Lows Last Week

REFINING

China’s independent refiners in Shandong raised run rates slightly to 51.97% of capacity in the week to June 21 after falling to the lowest since April 2022 at 51.88% the previous week, according to OilChem.

  • State-owned refiners raised rates to 74.85% of capacity from the lowest since December 2023 at 74.28% the previous week.
  • Commercial diesel inventories rose to the highest in six weeks at 16.56m tons but gasoline stockpiles edged slightly down to 11.44m tons in the week to June 20.

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