China imported record volumes of crude oil in the first half of 2023

From eia.gov

Record volumes of crude oil were imported into China during the first half of 2023 because of refinery expansions in the country and initiatives to reopen the economy after the government eased COVID-19 mobility restrictions. China imported an average of 11.4 million barrels of crude oil per day (b/d) in the first half of 2023, a 12% increase from 2022’s annual average of 10.2 million b/d. In the first half of 2023, China's crude oil imports increased from 8 of the 10 top countries it imported crude oil from in 2022, according to China’s General Administration of Customs data. China sourced much of the additional ... (full story)