China’s Crude Oil Imports Increased by 5% in January and February

Chinese crude oil imports jumped by 5.1% in January and February compared to the same two months last year, government data showed on Thursday, as fuel demand rose during the Lunar New Year holiday last month. China, the world’s largest crude importer, saw oil cargo arrivals rise to a total of 10.74 million barrels per day (bpd) in the first two months of 2024, compared to about 10.4 million bpd in January-February 2023, according to Reuters’ calculations based on data in tons reported today by the Chinese General Administration…