A post by @FirstSquawk on X.

China imported 27.15 million tonnes of oil products in the first ten months of the year, down from 34.19 million tonnes over the same period last year, according to data cited by First Squawk. The roughly 7 million tonne year-on-year decline points to weaker refined-product demand or a shift toward domestic refining capacity in the world's largest crude importer. The drop matters for global refiners and exporters that count on Chinese buying to clear excess barrels. Watch upcoming monthly customs figures and refinery run rates for signs of whether the pullback persists into year-end.