June crude imports fell to the lowest level since 2016 as weak fuel demand, EV adoption, export curbs and geopolitical risks reshaped buying patterns
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China’s crude oil imports plunged 41.3% in June to their lowest level in nearly a decade as the world's top buyer curtailed purchases amid the U.S.-Iran war.
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Inbound shipments fell 41% in June as the U.S.-Iran war pushed energy prices higher and rapid EV adoption at home weakened demand
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China’s sharp cut in crude imports is easing pressure on oil prices, but its inventory cushion will eventually need replenishing.
