Crude imports for China’s independent refineries fell 19.7% to a six-month low of 2.76 million b/d, or 10.9 million mt, in February, from a record-high of 3.43 million b/d in January amid the coronavirus outbreak, a monthly survey by S&P Global Platts survey showed Thursday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now On a year-on-year basis, the volume was still 11.9% higher from February 2019. The independent refineries’ crude oil imports normally decline in the month after the Lunar New Year, while significant throughput cut in February 2020 also weighed on the inflows. Lunar New Year fell in January this year. In February, 15 independent and ChemChina’s refineries in Shandong were shut, with the rest cutting throughput due to weak domestic demand for oil products amid coronavirus outbreak. This led their run rate to drop to as low as 36% from an […]