AROUND 50 MILLION MT OF QUOTAS LEFT 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 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