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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
CDU capacity utilisation at China’s independent refineries averaged 65.5% in 2024 to date, up 2.58 percentage points on the year, according to OilChem.
- The increase has been partly attributed to a low base level in 2022 and 2023 as production was hampered by the pandemic-related squeeze on demand.
- The rising CDU rates have boosted China’s gasoline and gasoil production, with an annual growth of 3.61% and 4.71% respectively. This has produced to 7.68m mt of gasoline and 14.87m mt of gasoil in 2024 to date.
- CDU capacity utilisation rates at the teapots are projected to fall by 0.51 percentage points on the week to 63.09% in the seven days to Feb. 29, amid narrowing margins.
- Shandong’s Luqing refinery will cut its run rates after margins fell 18.8% last week to 236 y/mt.
Source: OilChem
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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