Uptrend: A police officer keeps watch as a Kuwaiti oil tanker unloads crude oil at the port in Qingdao. China’s oil demand in May was almost back to pre-Covid-19 levels. — AFP
SINGAPORE: Queues of tankers have formed off China’s busiest oil ports as the vessels wait to offload crude for refineries that are quickly ramping up production amid a rapid rebound in fuel demand.
Two dozen or more crude-laden tankers are waiting to discharge at terminals on China’s east coast that supply state-owned and independent refiners in the region, according to shipbrokers and vessel-tracking data.
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