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Major Asian Importers Offtake Less Crude in Summer

Copyright © 2021 Energy Intelligence Group
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  • Three of the world’s biggest crude importers in Northeast Asia continued to land dramatically lower volumes compared to a year ago, impacting global demand.
  • While Chinese crude imports rebounded strongly in August, they are markedly lower than levels a year ago.
  • Japanese crude imports appear to have recovered slightly in August as refining runs crept up, albeit temporarily.

Three of the world’s biggest crude importers in Northeast Asia are landing lower volumes compared to a year ago, and dramatically so, which is hurting global crude demand. And while Chinese crude imports did see a strong rebound in August, they are markedly lower than a year ago.

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