China Oil Imports Jump 22% Despite Disappointing Economic Data

Source Summary

China's oil imports surged 22% in the third quarter despite weaker-than-expected economic indicators. Retail sales rose just 0.6% year-over-year in July, falling short of the 1.5% analyst estimate and declining from 1% growth in June. Industrial output growth also underperformed expectations, increasing 4.5% in July, raising concerns about future crude oil demand.