Lower Oil Prices Are Fueling China’s Import Spree

China imported in August the highest monthly volume of crude oil for a year as purchases increased with the fall in international oil prices when cargoes were contracted.   Chinese crude oil imports jumped to 11.56 million barrels per day (bpd) in August—the highest level since August 2023 and a major rebound from the July low of 9.97 million bpd, per official Chinese data reported by Reuters columnist Clyde Russell.    The July imports of crude into China were the weakest in two years. Crude arrivals rebounded in…