Thursday, September 21, 2023
HomeTravelChina oil refinery output rises to record on firmer demand, export margins

China oil refinery output rises to record on firmer demand, export margins

Summary Crude throughput at 15.23 mln bpd, +19.6% yr/yr
Jan-Aug output +11.9% yr/yr at 14.76 mln bpd
Air passengers reached record in Aug, doubled yr-ago levels
Refiners incentivised also by firm export margins, quotas
Sept 15 (Reuters) – China’s oil refinery throughput in August rose to a record, data showed on Friday, as processors in the world’s second-largest crude consumer kept run rates high to meet summer travel demand and capitalise on strengthening export margins.
Total refinery throughput was a record 64.69 million metric tons last month, data from the National Bureau of Statistics (NBS) showed, up 19.6% from a year ago, the fastest annual growth since March 2021.
That is the equivalent of 15.23 million barrels per day (bpd), also a record on a daily basis and up from the 12.64 million bpd processed a year earlier when extensive refiners to cut runs.
August throughput was also up from July’s 14.87 million bpd.
Year-to-date throughput gained 11.9% from a year earlier to 491.4 million tons, or 14.76 million bpd.
Domestic demand for gasoline and kerosene over the August vacation season was a key driver of domestic fuel consumption, with travel levels likely to be have been further boosted by



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