Asia’s Crude Imports Remain Well Below Pre-War Levels

AI Summary

Asia's crude oil imports in June remain significantly lower than levels before the Iran war, with imports averaging 20.71 million barrels per day compared to 26.79 million bpd prior to the conflict. This shortfall is attributed to constrained Middle Eastern crude supplies and high prices of alternative sources.

Despite a slight recovery from May, Asia’s crude oil imports remain at multi-month lows in June amid constrained Middle Eastern flows and high prices for alternative supply. Asia’s crude oil imports in the three months before the Iran war started on February 28 averaged as much as 26.79 million barrels per day (bpd), according to estimates by Reuters columnist Clyde Russell. In contrast, the expected crude imports in June are at just 20.71 million bpd, per Kpler data cited by Russell. These would be higher than the imports of 20.39…