China expected to cut refinery runs by 0.6-1M b/d

China based analysts expect Chinese refiners to cut runs by between 0.6M b/d and 1.0M b/d on weaker domestic demand as a result of the coronavirus, Reuters reports.

Lower runs will likely result in a reduction in crude imports to China. In 2019, China imported a record 10.1M b/d of crude and refinery runs rose 7.6% y-o-y to 13M b/d.