China’s Refinery Runs Slip as War Squeezes Crude Supply

Chinese refinery processed 2.2% less crude last month, at an average daily of 14.52 million barrels daily amid the war-related squeeze on oil supply. Fuel output was also down, with gasoline shedding 2.95% to 13.51 million tons and kerosene production falling by 3.72% to 5.13 million tons. Diesel fuel production was up modestly, by 0.88%17.49 million tons. Domestic oil production, meanwhile, hit an all-time high of 4.49 million barrels daily, official data showed today, as cited by Reuters. Natural gas production in China also increased in March,…