Meet the Chinese Newcomers Staking a Claim to Global Oil Trading

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  • Teapots to handle about a fifth of China's 2016 oil imports
  • Plants boost refining rates as they get crude import licenses

China is forecast to overtake the U.S. as the world’s biggest crude importer in 2016 and that’s largely thanks to a group of buyers who weren’t allowed to purchase foreign oil a year ago.

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