Refinery Throughput at Sinopec Dipped in 2024 Amid Weaker Chinese Demand

China Petroleum & Chemical Corporation, or Sinopec, saw its refinery throughput drop by 2.03% in 2024 from a year earlier, the biggest Chinese refiner said on Friday. Sinopec’s refinery throughput fell to 252.3 million tons last year, amid an overall decline in Chinese crude processing rates, for the first time in decades. China, the world’s largest crude oil importer, saw lackluster oil demand and crude imports in 2024 amid a weaker-than-expected economy and faltering demand for road transportation fuels. As a result, Sinopec’s…