OilPrice · May 18, 2026 (May 18) · 1 min read

Chinese Refiners Slash Crude Runs to Lowest Level Since 2022

Analysis

AI-assisted analysis · reviewed by Yuri Kan

Chinese refinery crude throughput fell by 5.8% year-on-year in April, reaching the lowest level since August 2022, due to reduced refinery utilization and crude import cuts. This reduction is attributed to soaring oil prices, potentially linked to geopolitical tensions such as the Iran war.

Key Facts

Chinese refinery crude throughput in April was approximately 13.3 million barrels per day.
The April throughput represents a 5.8% decrease compared to April of the previous year.
The reduction is linked to high oil prices and potential geopolitical instability.

Market Impact

The reduction in Chinese refinery runs could put downward pressure on global crude oil demand and prices, potentially impacting the profitability of oil producers worldwide. It may also lead to increased exports of refined products from China, affecting refining margins in other regions. The situation could also signal a slowdown in the Chinese economy, which is a major driver of global oil demand.

Why This Matters for Cyprus

This decline in Chinese refining activity signals a potential shift in global oil demand dynamics and could significantly impact oil prices and refining margins worldwide, requiring industry professionals to adjust their strategies accordingly.

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