China Issues Massive Oil Import Quotas As It Reopens Borders
China has announced another batch of crude import quotas for refiners, allowing 44 private refiners to import 111.82 million metric tons of crude.
In October last year, China gave 20 million metric tons to 21 refineries for 2023, meaning the country has now issued 132 million tons of crude imports.
Last year at this time, China had only issued 109 million tons of crude imports to refiners, suggesting the country is expecting demand to climb.$Occidental(OXY)$
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