China’s Oil Imports Down 5% in January and February

China’s crude oil imports over the first two months of the year fell 5% on 2024 as the parting round of sanctions that the Biden administration imposed on Russian energy affected international flows. The total that China imported over the first two months of the year came in at 83.85 million tons, according to a Reuters report, which translated into an average daily import rate of 10.38 million barrels. A year ago, the average daily was 10.74 million barrels. Natural gas imports also slowed during the first two months of the year, by a sizable…