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The Economic Times

Economy / The Economic Times

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China is balancing Asia's crude oil demand by itself

China is bearing much of Asias crude demand reduction as the Iran war disrupts Middle East oil shipments through the Strait of Hormuz. Its July imports rose from Junes near-decade low but remained 24.3% below last year. Lower imports, supported by large stockpiles, are helping balance tighter regional supplies.

10 Aug 2026 7:08 am