China’s sluggish crude oil trade in the first quarter of the year has added to macroeconomic concerns and banking sector jitters to keep oil prices around $80 a barrel so far in 2023, despite the Chinese reopening and expectations of stronger demand in the world’s top crude importer later this year. China’s imports of crude oil surged by 22.
5% year-over-year in March to the highest monthly volumes in nearly three years since June 2020, official data showed in April as refiners were increasing…When Will Chinese Oil Imports Boost Oil Prices?
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