BEIJING :China's oil refinery throughput in July rose 17.4 per cent from a year earlier, data showed on Tuesday, as refiners kept output elevated to meet demand for domestic summer travel and to cash in on high regional profit margins by exporting fuel.Total refinery throughput in the world's second-largest o
BEIJING :China's oil refinery throughput in July rose 17.4 per cent from a year earlier, data showed on Tuesday, as refiners kept output elevated to meet demand for domestic summer travel and to cash in on high regional profit margins by exporting fuel.
July's production was the equivalent of 14.87 million barrels per day , up from a low base of 12.5 million bpd a year earlier when refiners cut back runs as the country faced extensive COVID-19 lockdowns. Domestic fuel demand has picked up with the arrival of the summer travel season, notably in gasoline and jet fuel. Domestic gasoline inventories fell around 3 per cent between mid-June and mid-July, according to data from China-based consultancy Longzhong.
China's crude oil imports in July pared back from close-to-record levels during the previous month, totalling 43.7 million metric tons, or 10.3 million bpd, according to the customs data.
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