A post by @FirstSquawk on X.
Chinese oil product imports decline to 27.15 million tonnes in January-October versus 34.19 million tonnes a year ago.
@FirstSquawk on X
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Chinese oil product imports fell to 27.15 million tonnes in the January–October period, down from 34.19 million tonnes a year earlier, according to data cited by First Squawk. The roughly 7 million tonne year-on-year decline points to weaker domestic demand or a shift toward domestic refining output in the world's largest crude importer. The drop matters for global refiners and exporters that count on Chinese buying to absorb excess product supply. Watch upcoming monthly customs figures and refinery run rates for signs of whether the pullback persists into year-end.
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