China 40% dependent on crude oil imports as of May

Apparent consumption of fuel oil was recorded at 21.13 mln tons in the period, up 36.48% year-on-year. 13.26 mln tons were imported in the months, up 60% year-on-year. Fear of rolling blackouts has forced some industrial plants to resort to using their backup generators for power supply. These generators burn fuel oil, instead of coal.

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