China processed the least crude oil since early 2020 in second-quarter 2022

In the second quarter of 2022, China processed the least crude oil since the first quarter of 2020, when the COVID-19 pandemic had the strongest effect on China's economic activity. The resurgence of COVID-19 cases since March 2022 and China's policy of localized mobility restrictions explain China's reduced demand for petroleum products, and as a result, reduced refinery activity, in the second quarter of 2022. More »