China's July Oil Imports Rise

Kpler Company expects China's crude oil imports to recover in July after hitting their lowest level in over a decade in June, with an average of approximately 7.8 million barrels per day compared to 6.2 million barrels in June. This increase is attributed to shipments that were previously stuck in the Arabian Gulf. However, rising tensions in the region—including renewed military escalations and threats to passage through the Strait of Hormuz—are exerting pressure on global oil supplies. Data shows significant increases in imports from Saudi Arabia, the UAE, and Russia, but the overall recovery remains modest due to slowed economic growth and policies aimed at reducing dependence on oil, which are impacting global market prices.

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