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Latest Reports and Analysis

Latest Analysis / China Oil and Gas Monthly

China Oil Snapshot

Published: 31 March, 2026

Highlights:

SPR back in focus as ongoing SoH supply crunch will likely fuel China’s stockpiling ambitions in the medium term.
Assuming the Strait of Hormuz disruption persists until mid-April, we expect China’s refinery runs to decline sharply from 2H March and stay subdued before recovering in May. ...

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