China’s refinery throughput in July retreated from the previous month’s record highs as refiners lowered runs because of weak domestic demand, a trend that could extend into August when many state-owned and independent refiners are likely to undergo maintenance. After surging to a historical high of 11.02 million b/d in June, China’s refinery throughput in July took a breather, easing 2.7% month on month to 10.72 million b/d, although it was 2.5% higher from July 2015, S&P Global Platts calculations based on preliminary data released Friday by the National Bureau of Statistics showed. The country processed 45.32 million mt of crude in July, NBS data showed. On a b/d basis, throughput in July was slightly lower than the average 10.73 million b/d over the first seven months. China refined 311.86 million mt of crude oil over January-July, up 2.5% from the same period last year, NBS data showed. NBS […]