China , the world’s second-largest oil consumer, is making the most of crude’s collapse as refiners process and import more oil than ever. Apparent oil demand, a measure of consumption, rose to an unprecedented 10.63 million barrels a day in December amid record crude processing and increased shipments from suppliers including Saudi Arabia , data compiled by Bloomberg show. This year, demand may expand by 5 percent, bolstered by about 7 million metric tons of crude stockpiling for emergency use, according to ICIS-CI Energy, a Shanghai-based consultant. China is emerging as a winner from the almost 50 percent drop in oil prices last year as OPEC resisted calls to cut production even as the U.S. pumps at the fastest pace in more than three decades. Refiners in the Asian nation will continue to boost operating rates in the coming months amid low diesel stockpiles and “healthy” margins, the International […]