Figures released last week show that China’s crude oil imports in the first half of 2021 declined for the first time in eight years. China has been the world’s largest net importer of crude oil and other liquids in the world since September 2013 and almost on its own created the 2000-2014 commodities ‘supercycle’, characterized by consistently rising price trends for all commodities – including oil - that are used in a booming manufacturing and infrastructure environment. This oil consumption boom from China was a…
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