China's annual crude oil imports hit an all time high in 2023

China's annual crude oil imports hit an all time high in 2023

Trade data from China's General Administration of Customs today contained the numbers for oil imports last year.crude imports hit 11.28 mln bpd, +11% y/yup from a previous record of 10.81 million bpd in 2020thus imports hit a record highAmong the reasons:Domestic passenger transport levels increased steadily through 2023Highway traffic for 2023 jumped 43.6% from the previous year in passenger kilometres for the January to November periodDomestic air traffic also recovered rapidly, rising 27% on the previous year to reach a new record in DecemberDomestic diesel demand was weaker Info via Reuters This article was written by Eamonn Sheridan at www.forexlive.com.