A clearer China picture set to emerge
New technologies will allow the oil market to understand what is going on in China quicker and in greater depth than before
China’s crude and refined oil products data is an important bellwether for the state of global oil markets and the wider global economy, and this is unlikely to get any less true as we move into the 2020s. But the growing availability of timely, more complete and trustworthy data on China’s oil trade flows will equip the 2020s’ market participants with the ability to make ever more informed decisions about global supply and demand. China’s crude oil imports hit a record high in October, with strong momentum rolled over into November amid elevated refinery run-rates. Waterborne crude arrivals into China grew by around 10pc year-on-year in January-November, according to Vortexa data. If these
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