China crude throughput to fall in Dec, Jan amid slow domestic demand

摘要

China’s crude throughput in January is likely to be capped following a month-on-month retreat in December amid lower clean oil product exports and limited recovery in transportation fuel demand, information collected by S&P Global Commodity Insights showed Dec. 26-30. Until the first batch of clean product export quotas for 2023 is allocated, Chinese refiners are estimated to slash their outflow by a half in January to about 3 million mt from December by using up the remaining quotas for 2022, refining sources and analysts said.