Foreign media report that China's crude oil imports have rebounded, but the buffering effect may be weakened.

Foreign media: China's crude oil imports are showing signs of recovery after several months of stagnation, which may diminish the previously supportive buffer against recent spikes in international oil prices.

China’s crude oil imports rose 6.2% month-on-month in August to 37.9 million tons—the highest in four months—but remained more than 23% below the same period last year. According to Kpler data, imports further increased in September to an average of 7.84 million barrels per day, up from 7.25 million barrels per day in August, though still significantly below the 9.76 million barrels per day recorded during the same period last year.

Analysts suggest China is unlikely to quickly return to pre-pandemic import levels, as elevated oil prices continue to compress refining margins, and current stockpiles remain sufficient to meet demand for several months.

Original article: toutiao.com/article/1876685101446156/

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