Angola becomes China’s No.2 oil supplier

摘要

Singapore—China’s crude imports from Angola rebounded more than a third year on year in July, helping the country to become the second largest supplier, after Saudi Arabia, but the trend is unlikely to be sustained. The heavy inflow of Angolan crude is unlikely to be sustained as Chinese refiners have slowed their purchases of the grade— after a buying spree earlier in the summer— because of expected refinery run cuts due to weaker demand.