What is China's next surprise for oil markets? Lower imports, higher fuel exports? - Reuters

Source: Reuters

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DW NOTE

China imported 11.4 million barrels per day in 2023 — the highest in its history. If it now exports more refined product than it imports crude, that's not market sophistication, it's demand destruction with a refining subsidy. The reserves are full, the economy is stalling, and the Party would rather ship diesel to Africa than admit domestic consumption has peaked.

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