China’s Crude Runs Fall To 10-Month Low
China’s crude oil refinery throughputs in July fell by 500K b/d m-o-m to 10.76M b/d, the lowest since September, according to the country’s National Bureau of Statistics. However, this was still 43K more than was processed during the same month in 2016. Over the first 7 months of 2017, China’s crude runs have averaged 11.10M b/d, up by 381K b/d y-o-y.
The m-o-m fall in crude runs comes amid slow domestic oil demand growth and high product inventories, Reuters reports.