China’s Oil Imports Set to Rebound as Refiners Hunt for New Supply

Crude oil imports into China are set to rise by about 1.2 million barrels per day in the final quarter of the year from the current one, although they will likely remain lower than pre-war levels, Bloomberg has reported, citing energy consultancies. Oil purchases by Chinese refiners are climbing back towards 10 million barrels daily but may not hit that number until the end of the year, according to analysts from Rystad Energy, Energy Aspects, and FGE NexantECA. Fourth-quarter import rates could reach 9.9 million barrels daily, which would be much…