China issues 2024 crude import quotas, most refiners given full-year allowances

News Snapshot:

Open this photo in gallery: An oil terminal off Waidiao Island, in Zhoushan, Zhejiang province, China, on July 18, 2022.STRINGER/Reuters China has released 179.01 million metric tons of crude import quotas for 2024, 60 per cent more than the January batch last year as almost all the refiners received their annual allocations, consultancies and trade sources said on Tuesday. Forty-one companies, mostly independent refiners were given the fresh quotas, trade sources and consultancy JLC and Longzhong said. The quota issued in January last year was 111.82 million tons. The outcome is closely watched by the market as these independent refiners...