China Issues Massive Oil Import Quotas As It Reopens Borders

China’s oil demand could soon rebound as the country reopens from Covid after nearly three years. Authorities have issued a massive batch of allowances for independent refiners to import crude oil.   China’s latest batch of crude import quotas for refiners allows 44 private refiners to import 111.82 million metric tons of crude, traders familiar with the Chinese policy told Bloomberg on Monday. Independent refiners are allowed to import certain volumes of crude oil in several batches each year, with quantities set by the Chinese…