What is China’s next surprise for oil markets? Lower imports, higher fuel exports?

LAUNCESTON, Australia, July 20 (Reuters) – If there is a surprise to China’s response to the Iran conflict, it’s not that the world’s biggest crude importer cut back on oil imports and refinery processing, it’s the extent to which it did. China has a strong track record of lowering crude imports in response to higher prices ?and boosting arrivals when they decline. Sign up here. But the collapse in imports to the lowest in nearly 10 years in June was dramatic, especially given that even though crude prices ?did surge in the weeks after the U.S. and Israel attacked Iran…