China state refiners slash throughput on supply disruption, weak margins

Chinese state refiners have cut oil throughput by more than 1 million barrels per day since the outbreak of the Iran war, reflecting supply disruption and weak refining margins. The reduction points to softer crude demand from a major buyer and adds pressure to oil markets and broader energy flows. The impact is meaningful for the sector, though not necessarily market-wide.

Analysis

Chinese state refiners have cut oil throughput by more than 1 million barrels per day since the outbreak of the Iran war, reflecting supply disruption and weak refining margins. The reduction points to softer crude demand from a major buyer and adds pressure to oil markets and broader energy flows. The impact is meaningful for the sector, though not necessarily market-wide.