China’s Crude Oil Imports Dropped by 6% Year-Over-Year in March

Chinese imports of crude oil fell in March by 6% compared to the same month last year as first-quarter crude imports were stable year-over-year amid high volumes of Russian crude flowing to China.   China imported 49.05 million metric tons of crude oil last month, which is equal to around 11.55 million barrels per day (bpd), per data from the Chinese General Administration of Customs cited by Reuters. While lower by 6.2% compared to the March 2023 volumes of over 12 million bpd – when China was recovering from the eased Covid-related…