China's oil refinery runs fall for first year since 2001

China
# 17 January 2023 10:07 (UTC +04:00)

China's oil refinery throughput in 2022 fell 3.4% from a year earlier, its first annual decline since 2001, as China's rigid COVID-19 controls took a toll on the economy and fuel consumption, APA-Economics reports citing Reuters.

Refiners processed 675.9 million tonnes of crude oil last year, data from the National Bureau of Statistics (NBS) showed on Tuesday, or about 13.5 million barrels per day (bpd). In 2001 processing slipped 0.3% from the prior year, NBS records showed.

Crude throughput in December rose 2.5% from the same month a year earlier to 59.88 million tonnes, the NBS reported, or 14.1 million bpd, the second-highest amount of 2022 on a daily basis as refiners ramped up production to use up fuel export quotas.

This is just down from 14.5 million bpd in November and the record of 14.8 million bpd in June 2021.

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