The Crude Report: China‘s 5th round of import quotas
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On Friday, 22 October 2021, China’s ministry of commerce released an unprecedented 5th batch of crude import quotas. This has allowed the country’s independent refiners to resume purchases of December-arriving crude and triggered a flurry of spot-market deals. In this episode of The Crude Report, our vice presidents James Gooder and Tom Reed review the latest round of allocations and the effect these quotas have on global trade.
