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Chinese Oil Imports Dip in 2024
Crude oil imports into China declined last year, for the first time in some 20 years, excluding the pandemic lockdown period. The daily average stood at 11.04 million barrels, down by 1.9% from 2023, customs data showed, as cited by Reuters. It bears noting that in 2023, Chinese crude oil imports ran at a record pace after the end of the lockdowns, with the daily average at 11.28 million barrels. “China in 2024 was a let down with the market expecting steady to stronger growth from 2023. Deflationary pressures and transport electrification dampened growth,” LSEG senior analyst Emril Jamil told Reuters. China is ... (full story)
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- Posted: Jan 13, 2025 9:39am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 183
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