Chinese refineries processed an average of 12.43 million barrels daily last month, a little lower than the September record of 12.49 million bpd but still the second-highest monthly throughput rate on record, Reuters reports , citing data from the National Bureau of Statistics. The increase came on the back of higher demand for fuels amid still strong economic growth, but also on the back of higher demand for crude oil inventories ahead of the start of winter. The October figure was 4.6 percent higher than a year ago. The figure for January to October, 12.13 million bpd, was 7.8 percent higher than the rate for January-October 2017. The news about the still strong run rates after the record-breaking September figures bodes well for future demand after an extended period of falling imports and run rates amid summer maintenance season and adjustments by independent refiners to a new tax regime […]