China Raises Crude Import Quota for Private Refiners

China has raised by 6% the total import quota for private importers for next year, to about 5.14 million barrels per day (bpd), the commerce ministry of the world’s top crude oil importer said on Tuesday. The combined import quota for non-state-owned companies was raised to 257 million metric tons, or 5.14 million bpd per Reuters calculations, from 243 million tons in quotas allocated to private refiners for this year. Private refiners in China need to be granted crude import quotas to be able to import oil to process at their refineries.…