China’s crude oil imports ease in December

Oil

China’s crude oil imports fell by 60K b/d m-o-m to 11.37M b/d in December, easing after previously reaching a ten-month high in November, according to China Customs data. Across 2022 imports have averaged 10.20M b/d, which is a decline of 100K b/d y-o-y and down by 650K b/d compared to 2020 levels.