SINGAPORE : China's crude oil imports fell for the second year in a row in 2022 despite a burst of purchases in the fourth quarter, as the country's strict COVID-19 control measures hobbled the economy and fuel demand. Imports for the full year by the world's top buyer totalled 508.28 million tonnes, equi
SINGAPORE : China's crude oil imports fell for the second year in a row in 2022 despite a burst of purchases in the fourth quarter, as the country's strict COVID-19 control measures hobbled the economy and fuel demand.
Imports slowed for most of the year as refiners faced weakening margins and sluggish fuel demand, but started picking up in October as Beijing moved to support the industry by drastically boosting fuel exports.https://fingfx.thomsonreuters.com/gfx/ce/dwvkdazeepm/china%202022 per cent20crude%20oil%20imports%20fuel%20exports.jpg
With the government focused on reviving economic growth this year after dropping its tough COVID control measures, some analysts are expecting China's crude oil imports to rebound strongly in 2023.
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