China's crude oil inbound shipments plummeted 41% year-over-year this June, reaching a decade-low of 29 million tons. This volume translates to approximately 7 million barrels per day, marking the lowest import level recorded in the last 10 years.
On a month-over-month basis, the nation's oil intake decreased by 4 million tons, representing a 12% contraction. This monthly performance stands as the weakest in eight years. Overall, import volumes have experienced a total reduction of 26 million tons, a 47% decline from previous levels.