News Business China's Crude Oil Runs Slide to 15-Month Low Amid Maintenance
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China's Crude Oil Runs Slide to 15-Month Low Amid Maintenance

Quantum Commodity Intelligence reports that crude oil runs in China have declined to a 15-month low due to maintenance activities. Here are the key points:

Overview

In April, China's crude oil processing rates dropped significantly, reaching the lowest level in 15 months. This decline is attributed to maintenance work carried out by refineries.

Impact on Markets

The reduction in crude oil runs has implications for the global energy market. It affects supply dynamics and may influence oil prices.

Reasons Behind the Decline

Several factors contribute to this decline:

  • Maintenance Shutdowns: Refineries are conducting maintenance activities, leading to reduced processing capacity.
  • Market Volatility: The decrease in crude oil runs may impact supply-demand balance and contribute to price fluctuations.

Outlook

Analysts are closely monitoring the situation. As maintenance concludes, crude oil runs are expected to recover gradually.

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