Singapore—China’s daily refinery throughput in October came in just under the record rate hit in September, suggesting refiners are continuing to replace product inventories run down in the second and third quarters, as well as that they are buying into the view that the country’s slowdown in economic growth has bottomed out. China refined 39.92 million mt or 9.44 million b/d of crude oil in October, up 6.7% year on year, the National Bureau of Statistics said November 9. This is the second highest daily volume to date, slightly lower than the record high 9.47 million b/d hit in September which was up 7% from a year ago.
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