China Boosts Oil Processing as Teapot Refiners Expand Role
- Refinery runs gain 0.9% to 10.46 million barrels a day in Oct.
- Operating rate at teapot plants highest since 2012: Oilchem
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China’s crude processing climbed to the highest since August, boosted by independent refiners that increased output after getting new oil-import quotas.
Refineries in the world’s second-largest oil consumer processed 44.25 million metric tons of crude last month, or about 10.46 million barrels a day, according to data released Wednesday by the Beijing-based National Bureau of Statistics. That’s up 0.9 percent, on a daily basis, from September.