China’s imports of crude oil have been trending much lower in September than in the past four months, while the rest of Asia is also significantly slowing imports this month with demand still under pressure, IHS Markit said on Friday. Crude oil discharged at Chinese ports in the last two weeks were below 8 million barrels per day (bpd), at levels similar to what China imported in March and April, Fotios Katsoulas, Liquid Bulk Principal Analyst, Maritime & Trade, at IHS Markit, said in an analysis. So far in the third quarter, China’s crude oil imports have stayed strong, with high congestion at many major crude ports. “But activity so far in September suggests that the world’s biggest importer of crude oil has been absorbing much less than a month ago,” Katsoulas said. Earlier this year, China imported record volumes of crude oil in May and June, as the […]