Refinery output seen falling to 14.7 million bpd
Weak transport fuel demand, export caps hurt refiners
Independent refiners39; throughput slides to 56 of capacity
SINGAPORE, Nov 4 Reuters Chinese refiners are expected to reduce fuel output for the rest of the year and maintain lower run rates in the first quarter of 2025 despite a seasonal demand uptick, as profit margins and fuel consumption in road transport remain weak.
The lower refining output in China, which has the world39;s largest capacity according to the Statistical Review of World Energy, is expected to cap imports by the world39;s top crude buyer, and may tighten domestic fuel supply and support prices.
Consultancy Rystad Energy lowered its forecast for China39;s refining throughput to 14.7 million barrels per day bpd for the fourth quarter from 15 million bpd previously, after some refiners cut runs amid weak demand, said Ye Lin, its Beijingbased analyst, without naming the refiners.
Vortexa analyst Emma Li expects China39;s refining output to fall at least 5 yearonyear in the fourth quarter and remain flat yearonyear at 14.7 million bpd in the first three months of 2025.
The country39;s refining output declined yearonyear for a sixth consecutive month in September as refiners struggled with lower domestic fuel sales and government export quotas.
Monthonmonth, throughput fell in April and has held roughly steady since then.
Demand for transport fuels, which account for about half of the country39;s…