China's Oil Surplus Inched Higher in 2024 ...Middle East

OILPRICE - Economy
Chinas Oil Surplus Inched Higher in 2024
source : OILPRICE ( Middle East ) () 72
China’s crude oil surplus last year increased to around 1 million bpd as refiners rushed to stock up on cheaper Russian crude, enjoying some purchasing flexibility for this year. Reuters’ Clyde Russell reported the average daily surplus stood at 1.15 million barrels, which compared with 760,000 barrels a year earlier. This, Russell, suggested, would give Chinese refiners options in handling the recent spike in oil prices prompted by the Biden administration’s parting sanction shot at Russia, which specifically targeted its energy…

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