Chinese refineries processed 3.3 per cent more crude oil in the first two months of 2023 compared with a year earlier, data showed on Wednesday, spurred by fuel export policy and as independent refiners processed more in response to improving margins.Recovering domestic demand for gasoline and aviation fu
Chinese refineries processed 3.3 per cent more crude oil in the first two months of 2023 compared with a year earlier, data showed on Wednesday, spurred by fuel export policy and as independent refiners processed more in response to improving margins.
That compared with 13.98 million bpd the same period a year earlier and 14.1 million bpd in December. Independent plants also raised processing rates by 4.4 per centage points over a year earlier to an average of 67.5 per cent of their capacity during the same period, according to the consultancy JLC.
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