Is This The End Of China's Oil Buying Spree?

China’s record-breaking crude oil imports supported oil prices through the late spring and summer when oil demand recovery in the rest of the world had just started and then wobbled amid concerns of a second COVID-19 wave. But can the oil industry continue to rely on this support? China imported record volumes of crude oil in May and June, as the oil-hungry nation attempted to benefit from the low oil prices in April. The imports in July, however, were lower than in June. Still,  they were 25 percent higher than in July last year. …