China’s August crude runs set a record high - JLC

China’s oil refinery throughput hit a record high in August amid less unit maintenance work and strong demand for oil products, reported market intelligence provider JLC, citing data released by China’s National Bureau of Statistics (NBS).

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China processed 64.69 million mt of crude in August with a daily throughput of 15.23 million b/d, an increase of 19.6% from August 2022, JLC reported citing data released by the NBS.

“This was the first time the country’s crude throughput exceeded 15 million b/d,” stated JLC.

The year-on-year surge in refining run rate was primarily attributed to the strong growth in fuel demand following an uptick in China's economic activity after multiple COVID-19 waves. JLC noted an increase in the country's gasoline and jet fuel consumption during the summer season.

On a month-on-month basis, China’s daily crude throughput in August went up by 2.47%, said JLC citing NBS data.

Meanwhile, China produced 17.47 million mt of crude in August, translating to 563,548 mt/day (4.11 million bbls/day), an increase of 3.1% from August 2022, JLC further stated.

China has processed a total of 491.40 million mt of crude so far this year, a surge of 11.9% from the same period in 2022, JLC said. “The daily throughput reached 14.76 mln barrels in the eight months,” it added.

By Aparupa Mazumder 

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