China’s crude throughput is set to reach a two-year low in April as state and independent refiners have slashed runs because of the latest COVID-19 resurgence that has hurt the country’s appetite for oil products when refineries are undergoing scheduled maintenance, data from S&P Global Commodity Insights showed. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now April run rates at the country’s four state-owned refiners fell to 76.4%, the lowest since 76.1% in April 2020. The utilization rate among Shandong independent refineries dropped to a two-year low of 50.1% as of April 20, data from local information provider JLC showed. “It’s still unclear about the COVID-19 controls in May, as the recent wave in Beijing has caught attention,” said a Beijing-based analyst, who expressed concern that lockdowns might expand to more Chinese cities. But fewer refineries will be under maintenance in May, partly […]