China releases fourth crude import quota

Oil

China has released a fourth crude import quota of 14.89 Mt to 16 companies, Reuters reported, citing an announcement from the Ministry of Commerce. The majority of the 16 companies are independent refiners. This marks the first time China has released a fourth crude import quota for non-state crude imports, Reuters noted. The quota comes as the government had cracked down on the swapping of import quotas. So far across 2021, non-state crude import quotas have totalled 177.14 Mt, compared to 184.55 Mt in 2020.