Bloomberg: China’s refinery production hits lowest level in six years
Bloomberg reported that China’s oil refineries last month reduced their production to the lowest level in six years due to decreased demand and disruptions in crude oil shipments from the Persian Gulf.
According to statistics released by China’s National Bureau of Statistics, the volume of oil processing in June fell by 18% compared to the same period last year, reaching 51.24 million tons, a figure that represents the lowest level since March 2020, coinciding with the onset of the COVID-19 pandemic.
This reduction occurred after a decline in China’s crude oil imports last month, which have reached nearly their lowest level in about a decade.