China Crude Imports Plateau Amid $100+ Oil Prices

China's crude oil imports are unlikely to increase significantly through the remainder of the year as prices have climbed back above $100 per barrel, according to OilPrice.

This comes after a second straight month of import volume increases in August, where refiners sought additional non-Middle Eastern supply and increased overseas fuel shipments amid eased export restrictions.

However, the outlook for the rest of the year has weakened as oil trades above $100 per barrel again and a U.S. blockade effectively removes the regular cheap supply that China's independent refiners relied on for years to stay competitive.