China insatiable crude demand may be reaching a turning point
Several key factors that previously contributed to the country’s robust demand for foreign crude oil have been changed, leading to a notable slowdown in imports for the first seven months this year, Gibson says. But Sinopec and a Chinese analyst argue the weaker growth should not be viewed as a rising trend and the pace of imports might pick up in the second half
A weakening growth in Chinese crude imports, not the Sino-US trade spat, should be a bigger concern for the tanker markets, Gibson says
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