China’s Crude Imports Set to Hit Weakest Level Since 2016

Chinese crude oil imports this month are on course to book an even weaker month than May, according to Kpler data, which sees the daily average at just 6.4 million barrels, as cited by Bloomberg. Data from Vortexa suggests a similar daily import level, the publication added. This would be the weakest import rate since October 2016, Bloomberg noted, and an 8% decline on May volumes. Those averaged 7.82 million barrels, according to customs data, down by 29% on the year and 17% on April. The May average was also a 38% drop on February volumes, before…