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China’s independent ‘teapot’ refineries are reshaping global oil markets and posing a challenge to OPEC

ndependent oil refiners in China, known as "teapots," accounted for most of 2016's 13.5 percent rise in oil imports in the nation, which is a bigger crude oil importer than the United States. As they go shopping for deals on the commodity around the world, they "are creating an opening for other suppliers, other traders, and OPEC has to rise up to that challenge," one expert said.
12 months ago
Amedeo Tumolillo
By Amedeo Tumolillo
Amedeo Tumolillo is an editorial consultant with SupChina and award-winning multimedia journalist. He previously worked at The New York Times and Spectrum. Follow him on Twitter at @hellotumo.
China in 2 minutes a day
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