China Oil Imports Seen Rising in Affirmation for OPEC Policy
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China is forecast to accelerate its crude imports this month after slowing in May from a record.
The Asian nation will start buying more to take advantage of low prices and ample supply to fill emergency stockpiles, according to ICIS China, a Shanghai-based commodities researcher. Overseas purchases fell to 23.24 million metric tons in May, the lowest in 15 months, according to preliminary data released by the General Administration of Customs on Monday.