A post by @FirstSquawk on X.
China imports 399.90 million tonnes of crude oil in the first 10 months, down from 470.94 million tonnes last year.
@FirstSquawk on X
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China’s crude oil imports fell to 399.90 million tonnes in the first 10 months of the year from 470.94 million tonnes a year earlier, according to a First Squawk post citing the latest trade figures. The roughly 71 million tonne year-on-year decline points to weaker refinery demand and softer industrial activity in the world’s largest oil importer. The drop matters for global crude balances because China’s purchases have been a key support for benchmark prices and for exporters across the Middle East, Russia and West Africa. Traders will watch upcoming monthly customs data and refinery run rates for signs of whether the pullback is stabilizing or deepening.
Muhabbit's AI wrote this summary of @FirstSquawk's post in its own words. It can get details wrong, so read the post on X.
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