China independent refineries’ January feedstock consumption set to fall as holiday nears

摘要

Feedstock consumption by China’s independent refineries in the Shandong region is set to fall in January as the upcoming Lunar New Year holidays have started to take a toll on overall industrial activity and transport demand, prompting refiners to keep utilization rates low. “Oil products demand has been weakening towards the end of the year. So some refineries will reduce throughput slightly along the way,” an analyst with local energy information provider JLC said.