China’s crude oil imports fall to lowest since September 2022

China’s daily crude oil imports in July fell to their lowest since September 2022, Reuters records of customs data showed, as weak processing margins and lower fuel demand curbed operations at state-owned and independent refineries.

The world’s biggest buyer of crude oil brought in 42.34 million tonnes in July, or about 9.97 million barrels per day (bpd), data from the General Administration of Customs showed.

Imports fell about 12% from the previous month and were about 3% below a year earlier, according to Reuters records of customs data.