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Chinese Refiners Slash Crude Runs to Lowest Level Since 2022
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Chinese refiners slashed their crude runs to the lowest level since August 2022 as China has reduced refinery utilization and slashed crude imports as oil prices soar amid the Iran war. Crude throughput at Chinese refineries slumped by 5.8% in April from a year earlier, to about 13.3 million barrels per day (bpd), according to official data from China’s National Bureau of Statistics published on Monday. That’s the lowest oil throughput since August 2022, when China was still under severe Covid-related lockdowns. The average…