China Gasoline Supply to Remain Sufficient in H2, 2018

Some stated-owned refineries such as PetroChina Hohhot Petrochemical Company, Sinopec Luoyang Company and Sinopec Anqing Company will shut down their units for maintenance in the second half of the year. However, compared with the centralized maintenance in March and April, the maintenance plans for the second half of the year will be scattered. The average operating rate of stated-owned refineries will remain high, and China’s refined oil supply will continue to be sufficient. However, it is worth noting that from October to November, some China’s refineries will produce -10# diesel or -20# diesel, so the 0# diesel output will decrease. In addition, the weather in the north will be colder, which will restrict the transportation, so it is easy to cause short-term supply shortage.