Asia’s Crude Oil Imports Set to Drop in 2024

Despite expected higher arrivals in November, Asia’s crude oil imports are on track to decline this year compared to 2023, confirming market concerns about weaker oil demand than previously expected. This month, a rebound in Chinese crude oil imports is set to push overall Asian crude arrivals higher compared to October and September, according to data compiled by LSEG Oil Research cited by Reuters columnist Clyde Russell. But the tracked import data for the first 11 months of the year showed that Asian crude oil imports are on course to…