Rising Demand Leads To Record Refinery Runs In China

After some good news for oil exporters from China, there is now even better news about oil demand from the world’s top importer: Chinese refineries processed a record-high amount of crude oil last month, according to a Reuters report, as demand for fuels improved, driving margins higher. The average daily in June stood at as much as 14.08 million barrels, according to official data from the National Bureau of Statistics. This compares with 13.1 million bpd in May, and an average of 12.28 million bpd for the first four months of 2020. To compare,…