China’s crude-oil refining output rose 11% year-on-year to 35.3 million metric tons in June, reported Bloomberg, citing China Mainland Marketing Research. The figure, while still a record 8.64 million barrels per day, represents the slowest increase since October 2009. The decreasing growth rate is likely attributable to a broader slowdown in China’s economy, in which growth for refined oil consumption sectors – most notably industrial production and retail passenger car sales – decreased significantly in June.
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