China’s crude throughput will likely remain at relatively high levels over January-February despite the slowdown in domestic fuel consumption for the Lunar New Year due to the resurgence in COVID-19 spread, as refiners aim to clear their hefty feedstock stockpiles and make full use of the country’s sufficient refined product storage space. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “Sufficient oil product storage space and hefty crude imports in January/February allow and force Chinese refineries to boost throughput prior to maintenance season in March-May,” a Beijing-based analyst said. S&P Global Platts’ data showed that average run rate at 39 refineries under the four big state-owned oil barrels — Sinopec, PetroChina, CNOOC and Sinochem — is at 80.3% in January, up […]