China’s Refinery Runs Hit Highest Level in Nearly Two Years

Improved fuel margins and the end of spring maintenance boosted China’s oil refinery throughput in June to the highest level since September 2023. Chinese refiners processed a total of 15.2 million barrels per day (bpd) of crude oil into fuels last month, up by 8.5% from a year earlier, and up from the lows seen in April and May, according to Bloomberg calculations based on official Chinese data released on Tuesday. Amid heavy planned seasonal maintenance, crude oil processing at China’s refineries dipped by 1.8% in May from a year…