China’s crude oil throughput has gradually declined by 0.5% reaching 14.9 million barrels per day (mmbl/d) in December 2020 after recording a high in November. While the country’s total crude proceeded during 2020, jumped up 2.7% reaching 13.51 mmbl/d compared to the previous year, S&P Global Platts reported quoting data issued by National Bureau of Statistics.

According to refineries and analysts, the state-owned and private refineries have cut their average daily production in December despite improving the sales conditions, as they are trying to clear the storage before closure of the year.

The data showed that the Chinese refineries processed about 674.41 million metric tons) which increased by 3% versus the previous year.