China Sets Oil Import Quotas; ABI Ends 2016 on a 1-Year High

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Federico Rostagno/Adobe Stock

China has issued its first batch of crude oil import quotas for non-state companies at 68.81 million metric tons, or 1.38 million barrels per day (bpd), four refining sources with knowledge of the matter told Reuters.

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29 Companies received quotas, including independent refiners and trading companies, the sources said, citing an official document.

Architecture Billings End Year Strong

The Architecture Billings Index (ABI) concluded the year positive, with the December reading capping off three straight months of growth in design billings. As an economic indicator of construction activity, the ABI reflects an approximate nine- to 12-month lead time between architecture billings and construction spending.

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The American Institute of Architects (AIA) reported the December ABI score was 55.9, up sharply from 50.6 in the previous month. This score reflects the largest increase in design services in 2016 (any score above 50 indicates an increase in billings).

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