China Oil Demand Picks Up in July

OilPrice · Irina Slav · last updated August 17, 2025 – 10:54 PM

The amount of crude oil going into storage in China has declined from 1.42 million barrels daily in June to 530,000 barrels daily in July, suggesting a pick-up in demand, as reported by Reuters’ Clyde Russell. Refinery rates went up to 14.85 million barrels daily last month, the report also said, which was an 8.9% increase from July 2024, but at the same time, it was a 2% decline from June 2025. The utilization rate at Chinese refineries, however, rose both on an annual and on a monthly basis, reinforcing the perception of an improvement…

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