From Bloomberg
''Delays emptying supertankers at ports in China are spiraling as the world’s biggest energy consumer scours the globe for alternatives to Iranian oil to fill its strategic reserves, driving up shipping costs.
China, which aims to more than double its reserve capacity, imported a record 23.5 million metric tons of crude a month in the first quarter, customs data show. Purchases from Venezuela more than doubled from a year earlier and deliveries from Angola climbed 25 percent. Its imports from Iran slumped to the lowest level since 2010.''
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