As Chinese refiners returned from maintenance and built stockpiles, China’s crude oil imports jumped in May to the third-highest level on record, according to official data. China’s crude oil imports averaged 12.11 million barrels per day (bpd) in May, per data from the General Administration of Customs cited by Reuters.
The imports in May surged by 17.4% compared to April when China imported just 10.32 million bpd of crude oil. The May crude arrivals were also 12.2% higher than in May of 2022 when imports averaged 10.79 million bpd.…Indian Refiner Drops Expansion Plan To Focus On Petrochemicals
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