*China’s oil demand remains weak. Crude imports edged up to 10.52mn b/d for August but this remains over 300,000 down on average 2020 volumes, whilst refining runs at 13.78mn b/d for August were the lowest since May last year.
*The IEA estimates that China’s oil demand fell by 890,000 b/d in August due to mobility restrictions accompanying an increase in Covid-19 cases. Lower runs are also due to a clampdown on independent refiners ability to independently import feedstock (MEES, 27 August). (CONTINUED - 666 WORDS)