Goldman Sees China Oil Imports Staying Subdued in Fourth Quarter
Goldman Sachs Group Inc. projected that China's oil imports will rise moderately by 600,000 barrels per day in Q4, remaining subdued due to high crude prices. Despite this increase, imports are expected to be 3 million barrels per day lower year-on-year. The bank noted that a significant recovery in Chinese purchases is unlikely to trigger higher oil prices in the near future.