China’s June Crude Oil Imports Hit Record High

China’s crude oil imports in June hit a record high, according to a market analysis by OilX Research, in a sign that China’s thirst for crude oil is not being hampered by the coronavirus. In June, according to data compiled by OilX, China’s crude oil imports hit a record high of 11.93 million bpd—an increase of 820,000 bpd from May levels, which were also at record levels. This 11.93 million bpd represents a 2.4 million bpd increase year over year, which is a 25.4% increase. OilX attributes this increase in June to the restart…