China's Crude Imports Hold Steady at 7.2 Million Bpd in September Amid Soaring Oil Prices

China's crude oil imports are projected to remain stable at approximately 7.2 million barrels per day (bpd) in September, mirroring August's strong volumes, according to Kpler data cited by Nikkei Asia. This sustained demand extends a recovery trend, even as global crude oil prices have surged past $100 per barrel. The September cargoes were secured at lower prices, but China's continued robust purchasing from its June lows indicates firm underlying demand. Elevated crude oil prices, driven by strong demand from major economies like China, could fuel global inflation, potentially influencing central bank policies and putting upward pressure on Pakistan's import bill and the USD/PKR exchange rate.

بحوالہ / Source: oilprice.com