Asia's crude oil imports fell to their lowest level in two years in July, with a total of 24.88 million barrels per day, marking a 6.1% decline from the previous month. The decrease was driven primarily by weakening demand in China and India, with China's diesel demand particularly suffering due to a shift towards LNG-fueled trucking and a struggling property sector. In India, Russian crude imports decreased by 6.5%, while imports from Saudi Arabia surged by about a third. Meanwhile, Pakistan experienced an 11% decline in petroleum product sales, led by a significant drop in furnace oil consumption. Analysts project that China’s overall oil demand growth will remain below historical averages, further impacting global demand forecasts. OPEC and the International Energy Agency (IEA) continue to differ on future oil demand growth, reflecting uncertainty in the market.