weeklyfinancenews - ASIA - China’s October crude oil imports increased by 13.5% compared to the same period in the previous year.

China’s October crude oil imports increased by 13.5% compared to the same period in the previous year.

By f r on November 8, 2023 7:42 am

In October, China’s crude oil imports saw a significant increase of 13.52% compared to the same period last year, according to recent data. This surge in imports can be attributed to several factors. Firstly, refiners in China have been taking advantage of newly acquired import quotas, which have allowed them to increase their purchases of crude oil. Additionally, domestic fuel demand witnessed a boost during the Golden Week holiday, leading to an overall expansion in oil imports. This rise in crude oil imports indicates a growing demand for energy in China, highlighting the country’s strong economic growth and its position as one of the world’s largest consumers of oil.

#ChinaImports #CrudeOil #EnergyDemand #ImportQuotas #Refineries #GoldenWeek #FuelDemand #EconomicGrowth

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Published in ASIA