For How Long Can China Prop Up The Oil Market?

China's crude oil imports jumped to a record high in May, while refinery throughput increased to near-peak levels, suggesting a strong recovery in oil demand after the coronavirus outbreak. Indeed, recovery is there, but it is not the sole reason why China – through relatively strong crude oil imports even during the lockdown – helped the otherwise weak global oil demand when other countries went on lockdown in March and April.    Oil demand in China is rebounding, but it may be softer than what headline figures suggest…