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China crude import expected to stay at record levels

Since July, China has granted nearly 700,000 bpd of crude import quotas to small refiners, known as "teapots".


AS China closes in on the United States as the world's biggest crude oil importer, demand from private refiners and stockpiling of cheap oil is expected to keep imports at record levels after a wobble in the third quarter.

Despite slower growth in recent months - crude