Beijing has cut the crude oil import quotas for independent refiners for the rest of the year in the latest move to curb their growing oil market clout, Reuters has reported, citing industry sources. According to the report, the latest crude import quotas for independents is 14.89 million tons. This brings the total for the year to 177.
14 million tons, which compares with 184.55 million tons for 2020. This would normally be strongly bearish news for oil. But there is so much going on for the bulls it's likely that the effect of what amounts to…China Once Again Cuts Oil Import Quotas For Indepedent Refiners
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