21 Hrs
Source:
الخليج
China reduces oil imports
The article discussed China's decline in crude oil purchases during 2026 due to rising prices, with oil prices exceeding $90 per barrel. This prompted China to reduce its demand, aiming to consume around 9.9 million barrels daily by the end of the year, compared to levels exceeding 12 million barrels before the war. Nevertheless, purchases are expected to gradually rebound to about 10 million barrels per day as demand recovers, production from the Middle East increases, and refining strategies are adjusted. However, overall demand remains below 2025 levels due to high prices and a shift among some consumers toward electric vehicles and environmentally friendly fuels. Additionally, China's inventories remain substantial, providing some room for maneuver despite an 8% decrease since May.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)