June 14, 2012:

Sinopec Corp, Asia's largest refiner, will reduce its crude throughput by more than one million tonnes, or 243,000 barrels per day this month, versus an earlier output target, to trim high domestic inventories as demand slows, industry sources said. "The run level will be reduced quite deeply for this month. Almost every plant is taking some cuts, because demand, especially of diesel, is weak," said one Sinopec refinery source. Chinese refiners normally set their monthly production targets the previous month, but they sometimes make last-minute adjustments based on domestic supply and demand situations.

By Reuters