China's crude imports plunge to decade low in May as refiners drain stockpiles
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Something strange is happening in China: The country is drastically reducing oil imports. Despite the fact that China imports 70% of its oil, crude imports fell in May… How China is reducing oil imports, giving another example - ΘΑΝΤΕΜΟΠΟΡΙΚΙ
The imports of petr eo from the world's second largest economy were not very low at around one d each. For global markets, there is a good news, at least in the short term, that the fact that China is importing less crudely counters the impact on supply and an even more significant rise in prices due to the close of the Strait of Ormuz.
China's crude imports plunge to decade low in May as refiners drain stockpiles
China's reduced crude imports may stabilize global oil prices despite Middle East tensions, altering competitive dynamics among exporters. The post China’s crude imports plunge to decade low in May as refiners drain stockpiles appeared first on Crypto Briefing.
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