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Chinese Oil Demand Growth Could Slow Down Soon

Oil demand growth in the world’s biggest oil importer—China—is at risk of slowing down, at least in the coming months.   Higher oil prices play a role in this, but the main culprit is a new tighter tax regime on independent Chinese refiners, which is already choking the refining margins and profits of the so-called ‘teapots’ who have grown over the past three years to account for around a fifth of China’s total crude imports.    The teapots have become instrumental in China’s growing…