In H1 2024, China's fuel oil imports dropped 11% to 11.95 million metric tonnes due to weak refining margins and low fuel demand.
China's fuel oil imports fell 11% in H1 2024, reaching 11.95 million metric tonnes, due to weak refining margins and low fuel demand. June imports dropped 31% from May and 45% compared to the previous year. Despite higher global marine fuel demand following Red Sea shipping disruptions, China's fuel oil imports declined as refining margins and demand for fuel oil as a feedstock decreased.
July 21, 2024
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