China Posts Seventh Monthly Refinery Run Decline in a Row

Refinery run rates in China fell for the seventh month in a row in October, shedding 4.6% on an annual basis, data from the country’s statistics agency showed, as quoted by Reuters. As a result of the series of monthly declines, average refinery run rates for the first ten months of the year booked a 2% annual decline, for a daily average of 14.14 million barrels. The Reuters report cited a Chinese consultancy as saying the decline was related to maintenance shutdowns and bankruptcies at three refineries owned by Sinochem. What’s more,…