China's August Crude Oil Imports Fall 7% on Weak Demand, Refining Margins

CHINA - BEIJING. China's crude oil imports in August fell 7% year-on-year, customs data showed on Tuesday, as weak refining margins and low fuel consumption continued to weigh on demand, though shipments recovered somewhat from the lows of recent months.

Last month's imports stood at 49.10 million metric tons, according to the General Administration of Customs. That was however up from 42.34 million tons in July, the lowest level since September 2022.