China’s Refinery Runs Crash to Pandemic Lows as Crude Imports Collapse

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Chinese refinery throughput fell sharply in June to pandemic-era lows amid supply disruptions in the Strait of Hormuz and weakening domestic fuel demand. Refining volumes dropped 17.7% year-on-year to 12.47 million barrels per day, the lowest in six years according to National Bureau of Statistics data.

Chinese refiners further slashed crude processing in June, with volumes crumbling to the pandemic lows of 2020 amid Strait of Hormuz supply disruptions and weakening domestic fuel demand. China’s refinery throughput slumped by 17.7% from a year earlier, to just 12.47 million barrels per day (bpd) in June, according to data from the National Bureau of Statistics published on Wednesday.   That was the lowest processing volume in six years, since the onset of the Covid pandemic in March 2020, according to the data series. The average run…