China's Crude Oil Imports To Rebound, Despite June Blip

摘要

Key View: China's crude oil imports are expected to rebound over the remainder of 2018, driven by the desire to ofset declining domestic crude oil production, fulfll strategic stockpiling obligations and capitalise on lucrative export markets. Stricter tax rules and stronger competition will continue to weigh on the non-state refners' operations, though the issuance of fresh quotas and commissioning of several newbuilds in H2 will provide some relief.