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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 .
China’s crude throughput is set to reach a two-year low in April as state and independent refiners have slashed runs because of the latest COVID-19 resurgence that has hurt the country’s appetite for oil products when refineries are undergoing scheduled maintenance, data from S&P Global Commodity Insights showed. April run rates at the country’s four .
China’s reliance on Middle Eastern crudes grew sharply in the first quarter of 2022, as the country reduced inflows from Russia, Brazil and the US, data from the General Administration of Customs showed April 20. The Middle Eastern crude deliveries rose 4.8% to 5.6 million b/d in Q1, taking a 53.8% market share in the .
Chinese refineries will slash throughput in April and lift oil product exports from initial plans to compensate for falling domestic demand due to COVID-19 lockdowns. As a result, 10 refiners from the 11 polled Sinopec and PetroChina refining sources said they have cut their April throughput by 30,000-100,000 mt from their initial planned volumes or .