China Fuel Oil Imports Drop to Lowest Level Since at Least 2003
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China, Asia’s second-largest fuel oil importer, cut shipments last month by 60 percent to the lowest level in at least 11 years, data from the General Administration of Customs in Beijing show.
Overseas purchases of the residual fuel fell to 1.13 million metric tons in May, down from 2.83 million tons a year earlier and the least since Bloomberg started tracking the figures in January 2003. In the first five months of this year, imports declined 33 percent to 8.4 million tons.