Why China’s Soaring Crude Oil Imports Could Be a Massive Play for Global Stockpiles — And What It Means for Your Investments
Build-up of stocks in China may slow down at any time
“This corresponds to daily crude Oil imports of just under 12.2 million barrels. The (daily) imports were thus slightly higher than in March and the highest since summer 2023. The high imports are in line with the strong crude Oil processing reported this morning in China, which climbed to 15.2 million barrels per day, the highest level since September. Margins are currently high, especially in the diesel market, making high processing (and exports) attractive at present.”
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