Just when you thought China’s crude oil appetite might slow down, June rolls in with a 7% jump in imports compared to May — a hefty 49.9 million tons, no less. Now, that kind of surge isn’t just numbers on a page; it’s a powerful signal flashing across global markets. Sure, China’s revved up refinery activity is firing on all cylinders—processing hitting near a record 15.2 million barrels per day. But here’s the kicker: domestic demand isn’t exactly setting the world on fire, with Q2 GDP data painting a picture of structural and cyclical softness. So the real puzzle? China’s stockpiling frenzy, swelling crude inventories by an eye-popping 82 million barrels this quarter alone. Is it strategic smarts to boost energy security before new reserve rules kick in 2025? Or a risky overextension that could stall support for the oil market at any moment? It’s a high-stakes chess game that could reshape oil’s future balance — and one you don’t want to blink on. LEARN MORE
China’s crude Oil imports were again strong in June: according to customs authorities, 49.9 million tons were imported, 7% more than in the previous month, Commerzbank’s commodity analyst Barbara Lambrecht notes.
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