20MAR2019 - NEWS - Chinese refiners expected to process more than 13 million barrels of crude oil per day in the third quater of this year

Chinese refiners are expected to process more than 13 million barrels of crude oil per day for the first time ever in the third quarter this year. The rise in processing rates at China’s refineries is also expected to result in a worsening glut of refined oil products on the domestic market, and some refiners may opt to reduce run rates or focus on chemicals in order to avoid direct competition in transportation fuels, which will further dampen refining margins in China and the region. According to the China’s customs data, in the first two months of 2019, Chinese refineries processed 102.49 million tons of crude oil, or 12.68 million bpd—the highest on record and a 6.1-percent increase compared to the same period last year.

Published by Editor - www.Livebunkers.com at 20-Mar-2019 04:49:34 [UTC] , contact editor at editor@livebunkers.com