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Chinese Crude Imports Slip 16.2% in April m/m

OIL

Chinese crude imports in April slid 16.2% from March. They totalled 42.41 million tonnes in April, or 10.3 million bpd, according to data from the General Administration of Customs.

  • Imports have mainly been hit because of high levels of refinery maintenance in the country in Q2. Diesel demand in the country has also been sluggish, drawing questions about the economic rebound post lockdown.
  • Crude imports in March had jumped 22.5% on last year to 12.3 million bpd - the highest level since June 2020.
  • Refined fuel exports fell 1.96% on last year to 3.75 million tonnes for April, the lowest monthly level since last July, amid lower refining margins and refinery maintenance.
  • China imported 8.98 million tonnes of natural gas in April, up 11% from 8.09 million tonnes a year ago.
Energy BulletsCommodities
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