Inbound shipments fell 41% in June as the U.S.-Iran war pushed energy prices higher and rapid EV adoption at home weakened demand

China's crude oil imports hit a decade-low due to the Iran conflict. New all-time high by September 30 at 7.9% YES.

China's crude oil imports significantly dropped in June to a ten-year low. This decline occurred as refinery operations reached their lowest point in a decade. Domestic demand…

China's crude oil processing in June reached its lowest point since the pandemic began. This decline occurred as global supply tightened and domestic demand weakened…