New article Reuters- China Aug 7thSaved this because let's be honest most people and traders don't really look deep into data...they trade on emotions. I bet most people didn't even realize Chinese state refiners were returning from maintenance while working through trade and tax rules...anyhow for those interested...but for now Ignore data and stick with the media hypnotic message. BTW hedge funds trading love the volatility...they understand the true drivers which most small guys ignore. They make lots of cash on the market for a reason...
"China's crude oil imports rebound as state refiners return from overhauls"
"BEIJING, Aug 7 (Reuters) - China's crude oil imports rebounded in July from a six-month low as state-backed refiners ramped up output after returning from maintenance"
"China brought in 41.24 million tonnes of crude oil last month, equivalent to 9.71 million barrels per day (bpd), data from the General Administration of Customs showed on Saturday."
"That compares with 40.14 million tonnes in June"
Reference: https://www.reuters.com/world/china/chinas-crude-oil-imports-rebound-state-refiners-return-overhauls-2021-08-07/