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China Data April Crude Throughput Hits 44 Month Low of 13 35 Mil B D
Topic context
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AI insight
AI-generatedChina's refinery throughput and crude imports plunged to multi-year lows in April, driven by high fuel prices and Middle East supply disruptions. Weak domestic demand led to rising product inventories. This signals a demand-side shock for global crude markets, squeezing margins for refiners and reducing import volumes. The impact is China-specific but has global implications for crude prices and refining margins.
Signals our AI researcher identified
Extracted by our AI model from this article and related public sources — not direct quotes from the publisher.
- China's crude throughput fell 5.8% YoY to 13.35 million b/d in April, a 44-month low.
- Crude imports dropped 20% to 9.4 million b/d, a 45-month low.
- Domestic crude production rose 1.2% to 4.38 million b/d.
- Onshore crude inventory hit a record high of 1.36 billion barrels.
- Gasoline stocks increased 7% to 10.31 million mt due to weak demand.
Sustained throughput cuts will compress refining margins by 100-150bps over the next 2-4 weeks.
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Sector impact at a glance
- COMMODITY_OILmid
- COMMODITY_OILshort
- EM_ENERGYmid
- EM_ENERGYshort
- OIL_GAS_UPSTREAMmid
- OIL_GAS_UPSTREAMshort
- REFININGmid
- REFININGshort
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