{"id":207253,"date":"2026-07-15T03:27:09","date_gmt":"2026-07-15T03:27:09","guid":{"rendered":"https:\/\/www.europesays.com\/iran\/207253\/"},"modified":"2026-07-15T03:27:09","modified_gmt":"2026-07-15T03:27:09","slug":"china-slashes-june-oil-refining-volumes-to-six-year-low-as-crude-imports-collapse","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/iran\/207253\/","title":{"rendered":"China slashes June oil refining volumes to six-year low as crude imports collapse"},"content":{"rendered":"

Processing volumes fall 18% year on year to 51.24 million tonnes \u2013 the lowest since March 2020<\/p>\n

Published Wed, Jul 15, 2026 \u00b7 11:11 AM<\/p>\n

CHINESE oil refiners slashed output in June to the weakest level in six years, as the industry responded to worsening demand and disruptions to crude shipments<\/a> from the Persian Gulf.<\/p>\n

Processing volumes extended their decline in June, dropping 18 per cent year on year to 51.24 million tonnes, the lowest since March 2020 and the first throes of the pandemic, according to the statistics bureau on Wednesday (Jul 15).<\/p>\n

It follows a collapse in Chinese crude imports<\/a> in June to near a decade low.<\/p>\n

A slowing economy and the electrification of the transport sector have upended fuel demand and crushed margins, with independent refiners the worst hit given their reliance on cheaper Iranian crude.<\/p>\n

The sector, which accounts for as much as a third of Chinese capacity, saw operating rates plunge to a nine-year low, according to consultant JLC.<\/p>\n

China\u2019s total refining runs are expected to fall further in July as more firms shelve units for maintenance in order to limit losses, according to GL Consulting, which expects throughput over 2026 to drop 5.6 per cent.<\/p>\n

SEE ALSO<\/p>\n

\"Refiners<\/a><\/p>\n

Weaker demand from China, which typically relies on the Middle East for half its crude purchases, has so far helped buffer the global supply shock<\/a> from the Iran war.<\/p>\n

But renewed hostilities<\/a> in July cloud the outlook for both a recovery in Chinese consumption and the world\u2019s depleted oil reserves. BLOOMBERG<\/p>\n","protected":false},"excerpt":{"rendered":"Processing volumes fall 18% year on year to 51.24 million tonnes \u2013 the lowest since March 2020 Published…\n","protected":false},"author":2,"featured_media":171124,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[26],"tags":[19818,196,51844,39],"class_list":["post-207253","post","type-post","status-publish","format-standard","has-post-thumbnail","category-persian-gulf","tag-china-economy","tag-iran-war","tag-oil-refining","tag-persian-gulf"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116921869734041724","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/207253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=207253"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/207253\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/171124"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=207253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=207253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=207253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}