China’s oil refinery load rose to a record 14.9 mbpd in March

The workload of Chinese oil refineries (refineries) reached a record high in March. This follows from the data published on Tuesday by the National Bureau of Statistics.

Thus, the total loading of the refinery amounted to 63.9 million tons, or 14.9 million barrels per day. This is 8.8% higher than last year’s figures.

The increase in the workload of the refinery is due to the recovery of export demand for gasoline and jet fuel due to the increased mobility of citizens after the rejection of harsh anti-weed measures.

In March, fuel exports from China increased by 35.1% compared to the same period last year, the Main Customs Administration reported last week. At the end of March, the margin of gasoline production in Asia rose to 2-month highs amid limited supply from Indian refiners.

In addition, oil refiners are expected to increase their stocks of petroleum products ahead of the repair and maintenance season at large state-owned refineries in order to guarantee the availability of fuel on the domestic market.