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China’s crude throughput is set to rise month on month in June as refineries resume operations from maintenance amid expectations of demand recovery from pandemic-led movement curbs, data from S&P Global Commodity Insights showed June 28. However, the increase is expected to be capped by high product inventory as demand recovery is slower than expected, . ....
China’s crude throughput is set to fall further in May, extending the downtrend seen in April when it fell to the lowest in two years, as prolonged pandemic-related movement restrictions prompt state refiners to slash output further, data from S&P Global Commodity Insights showed May 27. Asia’s biggest oil consumer is witnessing overall subdued crude . ....
Chinese refiners’ crude throughput in April slumped 10.5% year on year to a two-year low of 12.66 million b/d as COVID-19 lockdowns reduced oil demand, National Bureau of Statistics data showed. The April throughput fell 8.6% from 13.85 million b/d in March, and was below the January-February average of 14.04 million b/d. Meanwhile the 320,000 . ....
Beijing has allocated 3.25 million mt of oil product export quota in the second round for bonded bunkering in 2022, up 8.3% from the same round for 2021, sources with knowledge of the matter said. The new allocation brings the total fuel oil export quotas amount to 9.75 million mt as of May for this . ....
China is speeding up efforts to eliminate cargo exports of some transport fuels earlier than the target of 2025 as part of its net-zero ambitions, a move that would increasingly limit the ability of the country’s oil companies to influence the global products market, Beijing-based sources with knowledge of the matter told S&P Global Commodity . ....