China’s crude throughput is likely to edge lower in July, weighed down by maintenance at state-owned refineries amid uneven oil product demand recovery and limited exports , S&P Global Commodity Insights data showed July 26. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The country’s four state-owned refiners trimmed their run rates to around 73.5% in July, just marginally above the two-year low of 73.4% in May, while the private integrated Hengli Petrochemical (Dalian) cut its utilization rate by eight percentage points from June. The reduction is unlikely to be offset by a 1.5 percentage points utilization increase in the Shandong independent refineries, suggesting a collective throughput decline on the month in July. For comparison, S&P Global’s data covered 46 refineries with an average utilization of 75% in June, while official data showed the country’s crude throughput rose 1.9% on the month to […]