Chinese crude oil markets reawaken

The global oil market is looking toward China for tangible signs of a worldwide revival. Still the world’s largest oil demand center, China is seeing a healthy return of crude demand, particularly in Shandong, their main import hub. Tom Reed, Vice President, joins Jeff Kralowetz, Vice President Crude and NGLs, to examine the mix of state-owned and independent Chinese refiners, the favored grades for import and how imported barrels are being priced.