China’s crude oil imports from the US hit a new record high at 2.01 million mt or 474,450 b/d in January, General Administration of Customs data showed Monday. The volume was significantly higher than the last record high of 1.18 million mt or 289,443 b/d registered in November last year. Unipec, the trading arm of Asia’s largest refiner Sinopec, said it would raise its shipments from the US to China by around 80% to 10 million mt in 2018, from 5.57 million mt last year, Sinopec said on the mobile app WeChat Monday. The volume brought in by Unipec accounted for 72.8% of China’s total US crude imports in 2017, and 10% of US crude exports, making it the largest trading company for US crudes in the Asia Pacific, Sinopec said. China imported 7.65 million mt of US crude in 2017, averaging 153,709 b/d. Almost 40% of US crude […]