Refinery throughput rates in China rose to a record high last month, reflecting strong demand for fuels from overseas and the need to build inventories before maintenance season. At some14.9 million bpd, according to data released this week and cited by Reuters, China’s March refinery runs could add upside potential to oil prices as indicative of the country’s continued recovery from pandemic lockdowns. The average for January and February stood at 14.36 million barrels daily, which compared with 13.98 million bpd for the first two…
