Chinese refinery throughput reaches five-month high

Oil

Chinese refinery throughput increased by 760K b/d m-o-m and 320K b/d y-o-y to 14.57M b/d in November, rising for the second month in a row to the highest level since June, according to data from the National Bureau of Statistics (NBS). Chinese refiners ramped up their output in order to tackle a domestic diesel shortage, as well as capitalise on healthy margins amid elevated gasoline and diesel prices, Reuters reported. Across the first eleven months of the year refinery runs have averaged 14.15M b/d, which is an increase of 730K b/d compared to the same period in 2020.