Chinese crude oil refineries processed an average 12.07 million barrels of oil daily in 2018, up by 6.8 percent on the year and the highest daily processing rate on record, government statistics show, as cited by Reuters. In December alone, local refiners processed 12.05 million bpd, a 4.4-percent annual improvement, the data also showed, reflecting a sharp increase in imports of crude oil in the last month of the year. China imported 30 percent more crude oil in December than a year earlier. The surge was the result of independent refiners rushing…
