China's Crude Runs Soar, But Product Exports Tumble

摘要

Chinese refineries' crude throughput spiked in March, boosted by a rebound in domestic demand for refined products, which also dragged down exports of products. The leap in refineries' crude runs drove China's crude imports to their highest level in almost three years. Crude runs rose by around 690,000 barrels per day versus the first two months of this year to 15.1 million b/d in March, and were up by more than 1.2 million b/d versus March 2022, according to the National Bureau of Statistics.