China imported 12.08 million bpd of crude oil last month, according to official customs data, which was lower than the record-breaking import rate in June but 25 percent higher than the average for July 2019, Reuters reported. The official data confirms OilX’s report released earlier this week, which said July imports were 3 percent below the June average. The increase on an annual basis came because a lot of cheap oil bought in April when prices were at their lowest only now arrived at Chinese ports and some delayed oil cargoes cleared customs…
