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China Signals Surge In Oil Demand With Major Increase In Import Quotas

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China issued a substantial increase in its crude imports quotas for this year, the clearest sign yet that Chinese refiners are set for a material increase in output  - and a surge in demand for oil - as the nation finally moves away from its ridiculous Covid Zero policy. On Monday, China issued a second batch of 2023 crude oil import quotas, raising the total for this year by 20% compared to the same time last year, according to Reuters and Bloomberg.  According to the document from the Ministry of Commerce, 44 companies,…

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