China’s Oil Imports Slump to First Annual Decline Since April

Chinese crude oil imports dropped by 9.2% year-over-year in November, marking the first annual decline in crude arrivals since April, and potentially signaling weakening demand. China imported 10.33 million barrels per day (bpd) of crude oil last month, down from October’s imports by more than 1 million bpd, per data from the General Administration of Customs released on Thursday.    The Chinese crude arrivals in November were the lowest since July this year and saw the first year-on-year decline since April. In October, stronger…