China’s crude oil imports surged 45.3% on year in Jun, rose 11.7% in first half – customs data
COMMODITIES DATA
China’s crude oil imports surged 45.3% on year in Jun, rose 11.7% in first half – customs data
COMMODITIES DATA

China’s crude oil imports surged 45.3% on year in Jun, rose 11.7% in first half – customs data

 

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China’s crude oil imports in June jumped 45.3% year over year to 52.06 million tonnes, or 12.67 million barrels per day (bpd), showed the data from the General Administration of Customs, representing the second highest monthly figure on record, and a sharp increase from the 8.72 million bpd in June last year.

Crude imports rose by 4.58% in June from May’s 12.11 million bpd, showed the data. 

Total crude oil imports during the first half of the year reached 282.1 million tonnes, rising by 11.7% from the 252.52 million a year earlier, showed the data.

Crude inventories in China continue to rise against an uncertain macroeconomic backdrop. Commodities consultancy Vortexa estimated onshore crude inventories at 980 million barrels at the end of June, just 20 million barrels below an all-time record in August 2020.