Chinese crude imports not being refined is making headwinds for tankers, says analyst
China has been importing plenty of oil lately, but little of it is being used, posing a problem for tanker owners, according to Breakwave Advisors.
The New York asset manager said Chinese oil demand fell 5% in April versus year-ago figures, even as oil imports surge as refinery throughput decreases.
The pattern suggests “a buildup of inventories”, it said.
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