According to data released by the Customs General Administration, daily crude oil imports stood at 11.56 million barrels per day last month, the highest level since August 2023.

Total shipments for the month stood at 49.10 million metric tons, down seven percent from last year, as low fuel consumption continued to keep demand subdued.

As was reportedly stated, the seasonal increase in refining operations in September and October will not be as strong as last year, due to weak demand for road fuel transportation as a result of greener substitutions

China’s annual oil demand growth has slowed from between 500,000 to 600,000 barrels per day in the five years prior to the Covid-19 pandemic to 200,000 barrels per day today, according to data presented at the most recent APPEC international fuels conference, held this week in Singapore.

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