China’s crude oil throughput continued to fall in August, with daily runs hitting the lowest since May 2020, as a resurgence in coronavirus cases and a drastic cut in fuel export quotas hurt production at refineries. Processing volumes in August were 58.35 million tonnes, or 13.74 million barrels per day (bpd), down 2.2% from a year earlier, data from the National Bureau of Statistics (NBS) showed on Wednesday. That was also less than the 13.91 million bpd in July, which was a 14-month low. Total throughput during the first eight months of 2021 reached 470.79 million tonnes, up 7.4% from a year earlier, largely reflecting the economy’s recovery from the initial impact of the COVID-19 pandemic. Reuters Graphics While state refiners raised output to compensate for some of the production losses at independent refiners that faced dwindling import quotas, Beijing’s cuts to refined fuel […]