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China Daily Oil Summary: Throughput Down in Nov

OIL

China’s throughput of crude oil into its refineries was 62.52m mt in November, according to OilChem, down 5.38m mt, or 7.92%, from October’s total.

  • Crude Oil arrivals into Shandong’s teapots in the seven days to Dec. 3 rose by 0.87% on the week to 1.61m mt, according to OilChem.
  • US crude exports rebounded in November helped by higher flows to China and increased demand from Canada post refinery maintenance. US Crude flows to China rose 74% m/m.
  • Domestic airline passenger capacity is set to fall during the week commencing Dec. 4 in Northeast Asia, down by 246k seats, or 1.3%.
  • YUAN: The currency strengthened to 7.1362 against the dollar from previous close of 7.1400.
  • China will accelerate the integration of domestic and foreign trade sectors as part of policymakers drive towards the new development pattern and high-quality advancement, according to a recent State Council executive meeting.
  • LIQUIDITY: The People's Bank of China (PBOC) conducted CNY67 billion via 7-day reverse repo, with the rate unchanged at 1.80%.
Energy BulletsCommodities
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