Despite a rise in Chinese imports this month, Asia's overall crude oil imports are expected to decline in 2024 compared to the previous year, reflecting weaker oil demand than anticipated.
Despite expected higher arrivals in November, Asia ’s crude oil imports are on track to decline this year compared to 2023, confirming market concerns about weaker oil demand than previously expected. This month, a rebound in Chinese crude oil imports is set to push overall Asia n crude arrivals higher compared to October and September, according to data compiled by LSEG Oil Research cited by Reuters columnist Clyde Russell.
slashed its forecast of global oil demand growth for the fourth consecutive month. The downward revision of global demand growth forecasts reflected yet another reduction in
Asia Imports China Demand OPEC Crude LSEG Market Forecasts
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