China’s oil imports hit all-time high ...News

Russia Today - Economy
China’s oil imports hit all-time high
source : Russia Today ( News ) () 58
Purchases of crude surged last year on growing fuel demand, according to customs data China ramped up its stockpiling of crude last year, with imports beating the previous annual record, reached in 2020, as fuel demand bounced back after Covid-19 restrictions were lifted, Chinese customs data released on Friday showed. The country’s oil imports surged by 11% year-on-year to 11.28 million barrels per day (bpd) in 2023, exceeding the record of 10.81 million bpd set in 2020, when Beijing took advantage of falling oil prices to stockpile large volumes of cheap crude. Increased domestic travel following the removal of

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