China's annual crude oil imports hit an all-time high in 2023

<p>Trade data from China's General Administration of Customs today contained the numbers for oil imports last year.</p><ul><li>crude imports hit 11.28 mln bpd, +11% y/y</li><li>up from a previous record of 10.81 million bpd in 2020</li><li>thus imports hit a record high</li></ul><p>Among the reasons:</p><ul><li>Domestic passenger transport levels increased steadily
through 2023</li><li>Highway traffic for 2023 jumped 43.6% from the
previous year in passenger kilometres for the January to
November period</li><li>Domestic air traffic also recovered rapidly, rising 27% on
the previous year to reach a new record in December</li><li>Domestic diesel demand was weaker </li></ul><p>Info via Reuters </p>

This article was written by Eamonn Sheridan at www.forexlive.com.