Chinese refnery runs are likely to fall this month from Oc-tober. The country’s autumn construction season petered out early and spiking Covid-19 infections have triggered an increase in lockdowns. Refnery crude runs are likely to average 13.7mn b/d in November, Argus surveys indicate, down from 13.8mn b/d in October. This would put them as much as 790,000 b/d below crude runs a year earlier and four percentage points lower than seasonal norms during this year’s fourth quarter. Chinese crude runs typically peak in October-December.
展开▼
