Oil prices have peaked since the beginning of the year, suggesting that refinery consumption in China, the second largest consumer in the world, has reached record levels last week despite the economic downturn.
Brent crude oil futures were $ 62.77 per barrel, 7 cents, or 0.1 percent of the previous settlement. For the first time since 2019, Brent had arrived over US $ 63 a barrel. The US WTI crude oil futures were $ 53.92 a barrel, which is 12 cents or 0.2 percent. US crude oil earlier this year hit $ 54 a barrel for the first time.
Data from the National Bureau of Statistics showed that the average consumption of crude oil refineries reached a record high of 603.57 million tonnes in 2018, or 12.1 million barrels per day, up 6.8% on the previous year.