July 25, 2021
SINGAPORE: Beijing s crackdown on the misuse of import quotas combined with the impact of high crude prices could see China s growth in oil imports sink to the lowest in two decades in 2021, despite an expected rise in refining rates in the second half.
Shipments into the world s top crude importer and No. 2 refiner could be steady, or increase by up to 2 percent to just over 11 million barrels per day (bpd) this year, consultancies Energy Aspects, Rystad Energy and Independent Commodity Intelligence Services (ICIS) found.
That compares to an average annual import growth rate of 9.7 percent since 2015, and would be the slowest growth since 2001, China customs data showed.
Analysis: China crackdown could knock crude oil import growth to 20-year low reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
China crackdown could knock crude oil import growth to 20-year low | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.