CHINA DATA: Throughput to ease from 7-month highs as refineries set to go offline
China’s crude throughput in March is expected to ease from seven-month highs seen in February, as refiners embark on a much delayed maintenance spree after postponing them last year in the wake of COVID-19, a move that could put downward pressure on oil products availability.
About 50 million mt/year of refining capacity at six state-owned refineries — five from Sinopec and one from CNOOC — is expected to be shut over the March-April period, while May could also witness some maintenance, albeit at a relatively lower capacity level, latest industry data and information collected by S&P Global Platts showed.