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China September Refinery Throughput at Record High

Oil

China’s crude oil throughput rose 1.03M b/d m-o-m and 1.26M b/d y-o-y to a record high of 13.8M b/d in September, data from the National Bureau of Statistics show. Robust crude runs were underpinned by the return of some independent refiners from maintenance and an acceleration in output of new large-scale plants that came on stream earlier this year. Average crude runs in January-September rose 784K b/d annually to 12.79M b/d.

By early afternoon in London, ICE Brent was trading at $59.66/bbl, down $0.05/bbl from the end of Tuesday’s trading.