China Crude Oil Processing Volume Increased 2.93% in Dec, 2018

According to SCI, China’s crude oil processing volume in December 2018 was 50.454 million tons, up 2.93% month-on-month and up 3.1% year-on-year. In the whole year of 2018, China’s crude oil processing volume was 584.984 million tons, up 4.65% year-on-year.The slips in crude oil prices impacted the refineries’ utilization. But therefining units at Hengli Petrochemical were put into production, and a smallnumber of refineries shut down their units for maintenance. Accordingly, thecrude oil processing volume in December increased.