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Asia crude oil imports start 2024 strongly as India leads
Asia’s imports of crude oil saw robust growth in the new year, reaching an eight-month high in January as top buyers China and India snapped up cargoes. The world’s top-importing region saw arrivals of 28.57 million barrels per day (bpd) in January, up from 27.03 million bpd in December, according to data compiled by LSEG Oil Research. China, the world’s biggest crude buyer, imported 11.31 million bpd in January, slightly below the 11.48 million bpd in December, but well above the 10.24 million bpd from the same month in 2023, according to LSEG. It’s likely that China’s refiners were encouraged to keep ... (full story)