China’s 2021 Crude Oil Imports Down 5.7% - BIMCO
Chinese crude oil imports fell year-on-year in June and July, ending a streak of five months of accumulated year-on-year growth. After the first seven months of 2021, China’s crude oil imports are down 5.7% compared with the same period last year. January to July imports stood at 301.9m tons, an 18.1m tons decline from January to July 2020.The June and July decline in crude oil imports is not attributable to unusually low imports as much as to unusually high imports in June and July 2020 when oil importing countries – including China - took advantage of attractive prices as the oil price war raged.
Opinion: Weak Crude Imports in Asia Undercuts Oil Bulls
Another month, another weak outcome for crude oil in Asia, the world's top-consuming region, with July's imports declining for a fourth month in five as demand weakened amid high prices and the ongoing coronavirus pandemic.Asia's imports for July were assessed at 21.77 million barrels per day (bpd) by Refinitiv Oil Research, a 10-month low and down from June's 23.08 million bpd.The weakness was led by China, the world's biggest importer, with July's arrivals estimated at 9.21 million bpd, a seven-month low.Kpler, which similar to Refinitiv assesses crude flows using vessel-tracking and port data, was slightly mor
