China's seaborne crude oil imports are tracking at a decade low in May, dropping to roughly 6.5-7.5 million b/d as refiners drain onshore stockpiles.

Data from international tanker-tracking firms reveals that Iran's oil exports and deliveries to China dropped to their lowest level in 1 ...

China's seaborne crude oil imports are tracking at a decade low in May, dropping to roughly 6.5-7.5 million b/d as refiners drain onshore stockpiles.

Beijing has leaned on stockpiles, refinery cuts and export curbs instead of chasing replacement crude, helping cushion global markets from the supply shock.

In May, China's crude imports dropped to 33 million tons, the lowest in over eight years, as the Iran conflict affected supply. | Business News

China’s sharp cut in crude imports is easing pressure on oil prices, but its inventory cushion will eventually need replenishing.