China imported 8.9 million barrels per day (bpd) of crude last month, down from 9.99 million bpd in September 2021 Higher international oil prices and a crackdown on illicit import quota led to lower imports Higher international oil prices and China’s crackdown on illicit import quota trade led to the lowest Chinese crude oil imports in three years in October. China imported 8.9 million barrels per day (bpd) of crude last month, down from 9.99 million bpd in September 2021 and from 10 million in October last year, official customs data cited by Reuters showed this weekend. The rally in crude oil prices, the limited import quotas for independent refiners, the so-called teapots, and the government crackdown on the illegal trade of crude import quotas dragged October 2021 crude imports to the lowest level since September 2018, according to Reuters estimates based on data from the Chinese General Administration […]