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China’s Oil Imports Up 2% As Asian Majors Offer Robust 2020 Response To Coronavirus Turmoil

It is said that Asia’s voracious appetite for crude oil in general, and China’s in particular, fuels much of the global demand that’s been so badly stunted by the spread of the global coronavirus or Covid-19 pandemic. However, there are signs of cautious optimism that demand is slowly returning as lockdowns gradually ease across the continent home to many emerging economies.

Latest data suggests China’s crude oil imports registered a bounce back in April from a month earlier on a daily average basis, as the country’s refiners increased output following a cautious return in fuel demand. That’s after Beijing eased domestic lockdowns across Chinese provinces including in Hubei whose capital Wuhan was the epicenter of the initial outbreak in February.

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