China has set the 2016 non-state trade crude import quotas at 87.6 million mt, or 1.76 million b/d, the Ministry of Commerce said late Friday. The volume would be up from 37.6 million mt originally set for 2015 at the end of 2014 but marginally lower than the 88.89 million mt that the country is estimated to give out this year after taking into account quotas allocated to independent teapot refiners since mid-2015. The 2016 non-state trade quotas amount to 26% of China’s overall average imports of 6.675 million b/d over January-September this year. China grants crude imports under two categories: “state trade” and “non-state trade” quotas. Article continues below… Oilgram News brings you fast-breaking global petroleum and gas news on and including: Industry players, upstream and downstream markets, refineries, midstream transportation and financial reports Supply and demand trends, government actions, exploration and technology Daily futures summary Weekly API […]