China’s crude imports rose to a record as oil’s crash to the lowest in more than 12 years boosted buying. The world’s biggest energy user increased inbound crude shipments in February by 19 percent from the previous month to 31.8 million metric tons, according to data from the Beijing-based General Administration of Customs on Tuesday. That’s equivalent to about 8.04 million barrels a day, the highest daily average on record. Oil product exports slid a second month to 2.99 million tons, the lowest since May. Crude imports rebounded from a three-month low in January, when Brent oil fell below $28 a barrel to the weakest since November 2003. The international crude benchmark was trading at $40.34 a barrel at 12:24 p.m. in Shanghai on Tuesday. China took advantage of the oil price collapse last year to build up oil reserves and inbound shipments may rise this year after independent […]