The recent surge in China’s crude procurement activity on the back of low oil prices has led to severe port congestion in Shandong province in recent weeks, causing logistical constraints that could put brakes on the upward momentum in independent refiners’ run rates and crude throughput levels. Receive daily email alerts, subscriber notes & personalize your experience. Register Now China’s crude oil imports jumped 19.2% on the year to an all-time high at 11.34 million b/d, or 47.97 million mt, in May as refiners took full advantage of ultra-low crude prices and ample storage capacity. However, the recent flurry of tankers arriving in Chinese waters could not be handled in a prompt manner due to limited port capacity, […]