Deflating China May Be a Top Crude Oil Headwind China's declining bond yields, crude oil imports and automobile sales, alongside the increasing proliferation of EVs, may have global deflationary implications, particularly for crude prices. My graphic highlights China's plunging crude imports and the 12-month average dropping below its 2020 high after Brent rebounded to about $120 a barrel in 1Q. Has crude demand from the world's largest importer peaked? Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tjah5fkip3j9 {BI COMD} #crudeoil #China @Bloomberg(Mike McGlone)