Crude oil imports by China’s independent refineries, known as teapots, rose 2.8% MoM in September to 7.26 million mt, or 1.77 million bpd, an YoY increase of 8.5%. The rise was driven mainly by a surge in the volume of crude imports, which increased from 3.08 million tonnes in August to 4.03 million tonnes, according to data released on Thursday by China National Petroleum
Crude oil imports by China’s independent refineries, known as teapots, rose 2.8% MoM in September to 7.26 million mt, or 1.77 million bpd, an YoY increase of 8.5%. The rebound was attributed to a rise in feedstock demand as refineries restarted after maintenance shutdowns and also to efforts to use up crude quotas before the end of the year, according to a survey by S&P Global Platts.