China is unlikely to continue importing oil at the current level, Citi says

Ed Morse, an investment banker, says that oil imports to China could fall even though demand is expected to rise from now until the end of the calendar year. Morse attributes this potential drop to Beijing filling its emergency oil reserves which will remove about 100 million barrels from the market. Morse told an interview that "that's the main story for the second-half." It takes a great deal of oil off the markets.