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Chart of the Day: The Slowdown in China!
Summary
Figure (1) above is a rarity! It shows trends in Chinese oil demand and oil imports since 2013. Oil demand and imports had been increasing at a high rate until COVID-19 lockdowns hit. By the time Chinese oil demand recovered and reached an all-time high in the middle of 2023, demand started faltering. However, imports have not recovered to pre-COVID levels.
The reason for choosing this topic today is the decline in Chinese oil demand in the last two months.