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China\'s June crude imports plunge 41 percent, focuses on electric taxis to ease oil supply strain

China’s crude oil imports fell to their lowest level in nine years in June, with rising electrification in taxis and ride-hailing seen as a key driver of lower oil use amid supply worries around the Strait of Hormuz. June imports dropped 41.3 percent year on year to 29.27 million tons. Gasoline and diesel consumption fell even as travel and freight rose, while analysts and experts expect further declines in fuel demand and refinery utilisation.