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China's crude oil imports fell in April to the lowest level since January, customs data showed on Tuesday, as the country's post-COVID economic rebound slowed amid a weaker global macroeconomic backdrop. Imports in March had surged 22.5% on last year to 12.3 million bpd - the highest level since June 2020 - as refinery throughput set a new monthly record of 14.9 million bpd. Slower economic activity has put the brakes on refined fuel demand, particularly for diesel.

China’s April crude oil imports fall to lowest since January

China’s crude oil imports fell in April to the lowest level since January, customs data showed on Tuesday, as the country’s post-COVID economic rebound slowed amid a weaker global macroeconomic backdrop. Imports in March had surged 22.5% on last year to 12.3 million bpd – the highest level since June 2020 – as refinery throughput set a new monthly record of 14.9 million bpd. Slower economic activity has put the brakes on refined fuel demand, particularly for diesel.

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