China's Crude Oil Imports Fall to 29.27M Tons in June, Down 41.33% Year-over-Year

According to China's General Administration of Customs, the country's crude oil imports in June fell to 29.27 million tons, down 41.33% year-over-year and 11.51% month-over-month, marking the lowest level since October 2016. The decline reflects combined pressures from Middle East tensions and weakening domestic demand. The Middle East typically accounts for approximately half of China's crude oil imports.
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