Chinese Oil Imports Spike

1. Chinese Oil Imports Soar to New Highs- Chinese crude imports have reached their highest level since June 2020, with the country’s General Administration of Customs showing 52.3 million tons of oil imported, up 22% year-on-year. - Despite GDP growth slowing down to 5% this year, China’s oil demand has been greatly boosted by the removal of stringent travel curbs and re-emerging flight activity. - According to Kpler data, exports of Chinese products plunged last month to a third of December 2022 readings (when they hit an all-time…