China’s January crude oil imports averaged 11.12 million bpd, according to energy analytics company OilX. This was up by more than 18 percent, or 1.74 million bpd, from the December average. Refinery intakes also remain strong, OilX analysts noted, averaging more than 14 million bpd for eight consecutive months now.
China has been the single most bullish factor for oil prices since the pandemic hit. Thanks to the fast recovery of its economy, China has been instrumental in the oil price rebound as the world’s biggest oil importer. Independent…China Imports 11.12 Million Bpd Of Oil In January
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