Chinese refiners processed 17.4% more crude oil last month in response to stronger demand for fuels both at home and abroad, state statistics data cited by Reuters has shown. Domestic demand was pushed higher by the fact it is travel season, the report noted, with gasoline and jet fuel pushing the total demand higher.
The report added that in barrel terms, that processing rate translated into 14.87 million barrels of crude daily, up from 12.5 million barrels daily a year earlier. The July daily average was also higher than the June average, which…Chinese Refiners Ramp Up Processing In July
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