China's oil imports have fallen sharply. Here's why demand is weakening, how EVs and the economy are reshaping consumption, and what it means for oil prices.
China’s crude oil imports have dropped sharply from an average of 11.5 million barrels per day over the past five years to about 8 million bpd since April, raising questions about the future of global oil demand.
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For five years, China imported
an average of 11.5 million barrels of oil per day. Since April,
it has averaged just 8 million bpd.
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