China’s crude processing climbed to a record after some refineries resumed operations following maintenance. Refineries in the world’s second-largest oil consumer processed 43.92 million metric tons of crude last month, 3.3 percent higher than a year earlier, according to data released Saturday by the Beijing-based National Bureau of Statistics. That’s about 10.73 million barrels a day and up 2.6 percent, on a daily basis, from October . Last record was June ’s 10.59 million barrels a day. Higher oil processing in China coincided with record oil-product exports in November as refiners tapped overseas markets to reduce fuel stockpiles. Net fuel exports rose for a fifth month to 2.22 million tons last month, 77 percent higher than the previous month. “For refineries, processing more oil is good for their margins, but in the meantime, they need to be able to sell,” Jean Zou, an analyst with ICIS China, said before […]