China’s crude oil imports fell for the second month in a row in June to the lowest since December, as shrinking margins and volatile oil prices led some independent refiners, known as “teapots”, to scale back purchases. An oil tanker unloads crude oil at a crude oil terminal in Zhoushan, Zhejiang province, China July 4, 2018.June shipments came in at 34.35 million tonnes, or 8.36 million barrels per day (bpd), according to data from the General Administration of Customs. That was down 9 percent from 9.2 million bpd in May and also down from 8.8 million bpd in June last year. Thomson Reuters Oil Research had pegged China’s crude oil arrivals in June at 35.13 million tonnes. Imports for the first half of this year were still up 5.8 percent from a year earlier at 225 million tonnes, or […]