China’s crude oil imports in October rose to 40.80 million tonnes, which amounts to 9.61 million barrels per day, an all-time high based on Reuters calculations using the data.
The record volumes were a result of strong imports from China’s private refiners, known as teapots, who imported 8.22 million tonnes of crude in October, the highest monthly amount since Beijing started issuing import quotas to the refiners in 2015, according to Emma Li, an analyst with Thomson Reuters Oil Research and Forecasts.
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