China Starts Year With Record Oil Processing on Holiday Demand
- Crude refined in January-February was at 118.76 million tons
- Gasoline and jet fuel demand climbed over Lunar New Year
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China processed a record amount of crude at the start of the year as refiners ramped up operations to meet holiday demand.
The volume of oil processed in January and February was 118.76 million tons, an all time high and 3% more than the same period last year, government data released on Monday show. That’s equivalent to 14.51 million barrels a day, according to Bloomberg calculations.