Oil Refiners in China Log Another Record in Challenge to U.S.
- Asian nation forecast to become the world’s largest processor
- Run rate surges almost 4% as maintenance ends, new plants open
Photographer: Costfoto/Barcroft Media/Getty Images
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Chinese oil companies processed a record volume of crude in June, offering further signs that Asia’s largest economy may surpass the U.S. to become the world’s biggest refining nation this year.
Volumes hit 14.86 million barrels per day last month, up 3.8% from May, according to Bloomberg calculations based on data from the National Bureau of Statistics on Thursday. That compares with a daily average of 16.17 million barrels in the U.S. in June, data from the Department of Energy show.