China Oil Demand Picks Up in July ...Middle East

The amount of crude oil going into storage in China has declined from 1.42 million barrels daily in June to 530,000 barrels daily in July, suggesting a pick-up in demand, as reported by Reuters’ Clyde Russell. Refinery rates went up to 14.85 million barrels daily last month, the report also said, which was an 8.9% increase from July 2024, but at the same time, it was a 2% decline from June 2025. The utilization rate at Chinese refineries, however, rose both on an annual and on a monthly basis, reinforcing the perception of an improvement…

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