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China Crude Imports Slip to 11.18mn bpd September

OIL

China crude imports slipped in September to 45.74 million tons or 11.18mn bpd – 10% lower than August’s pace of 12.48mn bpd based on customs data.

  • Imports were ahead of last year’s pace of 10.03mn bpd.
  • Crude imports slowed as refiners awaited top-ups to year-end allocations and some refiners had maxed out allocations.
  • Purchases of feedstocks by teapot refiners slipped to 10.14 million tons in September, down 7% on-month, JLC said earlier this week.
  • Vortexa data showed a draw in China crude stockpiles in recent months.

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