Asia’s Crude Oil Imports Hit 18-Month High
Asia’s appetite for oil is surging. In June, crude imports across the region reached 28.65 million barrels per day — the highest monthly total since January 2023. China accounted for nearly 12 million bpd, while India followed with over 5 million bpd. The rise reflects both increased industrial demand and a post-COVID resurgence in travel and transport.
Oil prices have risen sharply in response, with Brent crude approaching $92 per barrel. However, analysts warn that sustained price hikes could slow down economic recovery in emerging markets.
🔍 Why it matters:
Energy costs influence everything from inflation rates to consumer behavior. Rising oil imports suggest strong economic activity but also hint at potential inflationary pressure — a key metric for traders, central banks, and commodity investors.
