China imported a record-high volume of crude oil last year, beating the previous annual record from 2020, as fuel demand rebounded after the Covid restrictions were abandoned in early 2023. Chinese crude oil imports jumped by 11% year-on-year to 11.28 million barrels per day (bpd) in 2023, according to data from the General Administration of Customs released on Friday and reported by Reuters.
The 2023 crude imports topped the previous record level of 10.81 million bpd from 2020, when China took advantage of the plunging oil prices to import large…China’s Oil Imports Hit an Annual Record in 2023
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