Oil imports by China, the world’s biggest consumer after the U.S., fell to a four-month low as congestion at one of its biggest ports curbed purchases from independent refiners. Inbound shipments in May totaled 32.24 million metric tons, data from the Beijing-based General Administration of Customs showed on Wednesday. That’s equivalent to 7.62 million barrels a day, down 4.3 percent from the previous month. Net oil-product exports fell by almost one-third from April to 810,000 tons. China has been a bright spot for the global crude market as smaller refiners known as teapots increase purchases after authorities loosened restrictions for them to import oil. Qingdao port in Shandong province, where most teapots are based, has been congested this year from “unprecedented” tanker traffic , according to Liu Jin, general manager of Qingdao Shihua Crude Oil Terminal Co., which operates oil berths at the port. “The congestion at the Qingdao […]