By Tsvetana Paraskova of Oilprice.com
Strict lockdowns in Shanghai and the resulting depressed fuel demand led in May to the largest annual decline in Chinese refinery production in at least the past decade, official data cited by Reuters showed on Wednesday. Last month, Chinese refiners processed around 12.7 million barrels per day (bpd) of crude oil, down by 10.9 percent compared to May 2021 , according to data from the Chinese National Bureau of Statistics. Refinery throughput was marginally higher compared to the April processing rate of 12.61 million bpd, but the April refinery output was also low by […]
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