Chinese refinery runs recover in April

Oil

Chinese refinery runs grew to 13.16M b/d in April, increasing by 1.33M b/d m-o-m, according to data from the Chinese National Bureau of Statistics. This is the first time average monthly throughputs have increased year-on-year since December 2019, with runs 430K b/d higher than April last year. China customs data reported that crude imports also edged up by 160K b/d m-o-m to 9.88M b/d as oil product demand in China continues to recover.