China is bearing much of Asia’s crude demand reduction as the Iran war disrupts Middle East oil shipments through the Strait of Hormuz. Its July imports rose from June’s near-decade low but remained 24.3% below last year. Lower imports, supported by large stockpiles, are helping balance tighter regional supplies.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.