Crude Oil Refinery Market in China & Japan at Stark Contrast

China’s crude throughput fell slightly in December due to some maintenance works toward the year-end.
The average run rate of the four state-owned oil majors, Sinopec, PetroChina, CNOOC and Sinochem, stood at around 78% to date in December, from an 80% average in November.
The reduction comes despite a rise in gasoline and gasoil sales since mid-November, as refineries try to clear product inventories ahead of year-end book closures, refiners.
PetroChina’s average utilization rate fell to 69%...