China Oil Imports Rise as Teapot Refinery Demand Overwhelms Port

  • Inbound shipments in April gain 3.2% m/m to 7.96 million b/d
  • Qingdao port congested as independent refiners boost purchases

Oil imports by China, the world’s biggest consumer after the U.S., rebounded amid strong buying by independent refiners that have helped push the country’s crude demand to a record and overwhelmed one of its biggest ports with tanker traffic.

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