Chinese crude imports leapt by 1.2mn b/d both month-on-month and year-on-year to 11.43mn b/d for November, putting last month among the top ten all-time figures.
The surge in buying has been driven by bumper margins which Chinese refiners have been able to take advantage of by a relaxation in product export quotas (MEES, 25 November). Refined products exports leapt to 6.14mn tons (around 1.6mn b/d) for November, a 17-month high. (CONTINUED - 414 WORDS)
