China's Crude Oil Surplus Drops Amid Refining Surge ...Middle East

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Chinas Crude Oil Surplus Drops Amid Refining Surge
source : OILPRICE ( Middle East ) () 64
Higher processing rates at Chinese refineries reduced the availability of crude for storage, Reuters’ Clyde Russell has reported, with the average crude surplus last month at just 570,000 barrels daily. For context, average surplus rates for crude oil have been estimated at close to 1 million barrels daily since the start of the year and 1.01 million barrels daily in August, Russell reported. Oil imports in September averaged 11.5 million barrels daily, data released earlier this month showed. The number represented a 3.9% increase on the…

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