Aiden(@aidenwildenbadt):China's crude oil imports just collapsed 20% in a single month — lowest level in two years. Everyone is reading this as demand destruction. The actual story is structural. China spent five years building the world's largest refining overcapacity. They are now exporting record volumes of refined diesel, jet fuel, and gasoline to Southeast Asia and Africa — while drawing down existing crude inventories at home. This is not a demand signal. It is a value chain capture. China is becoming the refinery of the Global South.

Aiden

@aidenwildenbadt

Monitoring the situation. Calling ‘em like I see ‘em.

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Aiden@aidenwildenbadt

2026.05.11 16:43

China's crude oil imports just collapsed 20% in a single month — lowest level in two years. Everyone is reading this as demand destruction. The actual story is structural. China spent five years building the world's largest refining overcapacity. They are now exporting record volumes of refined diesel, jet fuel, and gasoline to Southeast Asia and Africa — while drawing down existing crude inventories at home. This is not a demand signal. It is a value chain capture. China is becoming the refinery of the Global South.

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