China processed record crude on a daily basis in April as the nation’s independent plants boosted operations amid a surge in oil imports. Crude refining in the world’s second-largest oil consumer increased 2.4 percent from a year earlier to 44.75 million metric tons last month, or about 10.93 million barrels a day, according to data released by the National Bureau of Statistics on Saturday. That’s up 1.2 percent from the previous record of 10.8 million barrels a day in December. Independent refineries, known as teapots, have been increasing runs after they were allowed to import crude oil. The utilization rate at the plants in eastern Shandong province increased to 53 percent of capacity as of April 29, according to industry website Oilchem.net. That’s the highest since at least August 2011, when Bloomberg started compiling the data. “Teapot refineries have raised operation rates significantly this year,” Amy Sun, an analyst […]