China's oil refinery production in November increased by 0.2% year/year

China's refinery output in November increased slightly compared to last year, ending a seven-month drop, according to official data released on Monday.

The National Bureau of Statistics (NBS), according to its data, showed that refiners processed 58.51 millions metric tons of crude last month. This is equivalent to 14,24 million barrels of oil per day.

In November, China’s newest refiner Shandong Yulong Petrochemical operated its new 200,000 barrels per day (bpd), crude unit

at around 90%

It was online in late September, when the percentage of users had increased to 60-70%.

The demand for refined products has improved since late last month. Some refiners have also received a boost in their operation rates.

additional quotas for crude oil imports

In November, they were able to replenish their feedstock and ramp up production.

The November figure also increased from the October 14.02 million bpd.

The NBS data for the first 11 month of the year showed a throughput of 649.10 millions tons or 14.14 mbpd. This is down 1.8% compared to a year ago, and the sixth decrease in volume year-to date.

According to data, China's domestic crude oil production in November rose by 0.2% on the year to 17,25 million metric tonnes.

The year-to-date production was 194.92 millions metric tons. This is up by 1.9 % compared to a previous year.

The national crude oil output rose by 0.2 percent in November compared to the same month a previous year, reaching 58.51 millions metric tonnes. Year-to-date, it has totaled 649.1 millions metric tons - a decrease of 1.8 percent from last year.

In November, natural gas production increased by 3.1 percent compared to a year ago. It reached 20.7 billion cubic metres (bcm). The total output for the first half of this year was 224.6 billion cubic meters (bcm), up by 6.4 percent. (Reporting from Siyi Liu, Singapore; editing by Kate Mayberry.)

(source: Reuters)