China’s crude imports plunged to just 7.05 million barrels per day for June, 5 million b/d below the year-ago figure of 12.01 million b/d and almost as much below February’s prewar figure of 12.39 million b/d, according to Chinese customs data. This makes the June figure the lowest figure since October 2016 (see chart).
China Crude Imports Plunge to 10-Year Low
China’s crude imports of just over 7 million b/d for June were the lowest since 2016. Amid low refinery throughputs, there is no sign yet of a rebound.
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