China March crude oil and natural gas imports decline
China's crude oil imports fell 2.8 percent in March. Natural gas imports reached a multi-year low as the country reloaded record cargoes to profit from high prices.
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China recorded a 2.8% year-on-year decline in crude oil imports for March, a dip largely attributed to a high statistical base from the previous year. According to data from the General Administration of Customs, imports for the month totaled 49.98 million metric tons, or roughly 11.77 million barrels per day (bpd). While the market closely monitors the impact of regional instability involving Iran, the immediate supply chain remained resilient as March arrivals consisted of cargoes loaded earlier in the year.
