Asia’s Oil Imports Hit Record High Despite Drop In Chinese Demand

Crude oil imports into Asia hit an all-time high in January, rising by 11% from December, despite lower arrivals into China, data from Refinitiv Oil Research cited by Reuters showed on Thursday. Asia’s total crude oil imports jumped by 11.1% month over month to 29.13 million barrels per day (bpd) in January. The imports last month beat the previous record from November, when Asia imported 29.10 million bpd of crude oil, according to the data.   Crude oil imports in China, the world’s top crude importer, are estimated to have fallen…