Crude oil imports into China fell by 6.8 percent over the first nine months of the year, to 387 million tons, according to customs data cited by Reuters. Natural gas imports, on the other hand, jumped by more than 22 percent over the period, to 89.85 million tons, the data also showed. In September alone, crude oil imports fell by more than 15 percent from a year ago. Gas imports went up to the highest since the start of the year at 10.62 million tons, Reuters also reported, citing the official data. “China’s ambitions to cool commodity prices by drawing on commercial and strategic reserves, combined with power curbs in the industrial sector that cut into fuel demand, took a toll on crude oil imports,” said Seng Yick Tee, senior director at SIA Energy, an oil and gas consultancy, as quoted by Reuters. In addition to high—and still rising—oil […]