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OIL: China Crude Imports Fall to 44.70m tons in October

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APACCommoditiesChinaEnergy BulletsBulletGlobalRegion

China's crude oil imports were down on the month from 45.49m tons in September to 44.70m tons October and down about 9% y/y, according to General Administration of Customs data.

  • Imports for the period from January to October totalled 457.07m metric tons, down 3.4% from the corresponding period in 2023.
  • Imports fell as a 90kbpd crude unit closure at the PetroChina Dalian refinery added to weaker demand from independent refiners and despite Yulong ramping up, according to Reuters.
  • October oil product exports fell on the month from 5.19m tons in September to 3.96m tons in October and Jan-Sept exports were down 7.2% y/y to 49.16m tons.
  • Oil product imports were down from 4.48m tons to 3.94m tons in October but up 4.9% y/y at 40.92m tons.
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China's crude oil imports were down on the month from 45.49m tons in September to 44.70m tons October and down about 9% y/y, according to General Administration of Customs data.

  • Imports for the period from January to October totalled 457.07m metric tons, down 3.4% from the corresponding period in 2023.
  • Imports fell as a 90kbpd crude unit closure at the PetroChina Dalian refinery added to weaker demand from independent refiners and despite Yulong ramping up, according to Reuters.
  • October oil product exports fell on the month from 5.19m tons in September to 3.96m tons in October and Jan-Sept exports were down 7.2% y/y to 49.16m tons.
  • Oil product imports were down from 4.48m tons to 3.94m tons in October but up 4.9% y/y at 40.92m tons.