Correct Answer: Option C

Explanation

The phrase "turn out" means to produce or manufacture something. For example, if a factory is said to "turn out" a certain number of products per day, it means the factory produces that many products daily.

So, in the sentence "The new refinery will turn out five million barrels of oil daily," the word "out" is used to indicate the production or processing of five million barrels of oil on a daily basis by the new refinery.

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