Don't Tell The Saudis, But China Just Ramped Crude Output By Most In 3 Years

China’s oil output is rebounding. Production in the world’s second-biggest buyer rose from a seven-year low last month as OPEC (and NOPEC) negotiated with each other over an output cut deal. As Bloomberg data shows, November saw the biggest rise in Chinese crude production since October 2013.

Chart: Bloomberg

And refining is soaring...

Chart: Bloomberg

All ready to be exported?

Did someone forget to invite China to the 'deal' talks?