China will need to increase its oil imports if tanker owners are to see their shares rise.
ABG Sundal Collier said oil in transit ticked up last week but still trails year-on-year figures as seaborne crude oil heading to China fell 600,000 barrels per day year-to-date, versus 100,000 barrels per day globally.
The Chinese figures were “underscoring where the problem lies” analyst Petter Haugen wrote in a note published on Tuesday.
