China Crude Imports Hold Firm at 7.2 Million Bpd

China's crude oil imports are expected to remain steady in September at around 7.2 million barrels per day (bpd), according to preliminary data from Kpler.

This would be a continuation of the trend seen in August, when Chinese refiners began to restock on crude supplies after slashing import volumes in June due to high prices and constrained supply from the Middle East.

The September-arriving crude cargoes were purchased at prices below $100 per barrel, but the recovering shipments signal further upward pressure on crude oil prices.