China’s post-Covid economic recovery has been a key driver in the country’s crude and product demand rebound, says Clarksons.
The country accounted for 24% of global imports in 2022, giving the world’s second-largest economy a major role in the global seaborne oil trade.
“Chinese oil trade came under clear pressure in 2021-22, but after the easing of Covid-related restrictions late last year, volumes had been expected to rebound into 2023,” said Clarksons.
