China's crude oil imports rebounded strongly in November, up 18% y/y

The latest data from data from the sharply in November and jumped 18% y/y, while refined fuel exports hit a record high as small refiners (teapot traders) rushed to ease an expanding domestic surplus.

Reuters reports, “November crude oil imports at 32.35 million tonnes, or about 7.87 million barrels per day (bpd), up sharply from both 6.65 million bpd a year ago and 6.78 million bpd in October.”