China Issues Second Batch of Crude Oil Import Quotas

China has just given a potential boost to its crude oil imports as it has issued a second batch of import quotas for 2025 to its independent refiners, trade sources told Reuters on Monday. Unlike the state refiners, private refiners in China need to be granted import quotas to be able to import crude to process at their refineries. The Chinese authorities have now issued at least 152.49 million metric tons of crude oil import quotas to the independent refiners, the so-called teapots, according to Reuters’s sources. These add to at least another…