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OIL: China Imports Venezuela Crude in April but Russia Remains Main Supplier

OIL
Energy BulletsDataBulletCommodities

China imported crude oil from Venezuela for the third straight month according to official customs data while imports from Russia fell back after a surged to a near record high in March.

  • China's seaborne and pipeline imports from Russia fell 14.3% m/m from 10.81m metric tons in March to 9.26m metric tons (2.25mbpd) in April but were 30.1% higher on the year, according to data from the General Administration of Customs.
  • Saudi Arabia shipped 6.34m tons of crude oil to China last month, up slightly from 6.3m in February but down 25.1% on the same period last year.
  • Imports from Iraq rose from 5.42m tons in March to 5.54m in April but imports from Malaysia fell to 4.04m tons from 4.76m tons the previous month. Malaysia is used as a trans-shipment point for sanctioned cargoes from nations like Iran.
  • China imported 194k tons of crude oil from Venezuela in March compared to 375k in March.

 

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China imported crude oil from Venezuela for the third straight month according to official customs data while imports from Russia fell back after a surged to a near record high in March.

  • China's seaborne and pipeline imports from Russia fell 14.3% m/m from 10.81m metric tons in March to 9.26m metric tons (2.25mbpd) in April but were 30.1% higher on the year, according to data from the General Administration of Customs.
  • Saudi Arabia shipped 6.34m tons of crude oil to China last month, up slightly from 6.3m in February but down 25.1% on the same period last year.
  • Imports from Iraq rose from 5.42m tons in March to 5.54m in April but imports from Malaysia fell to 4.04m tons from 4.76m tons the previous month. Malaysia is used as a trans-shipment point for sanctioned cargoes from nations like Iran.
  • China imported 194k tons of crude oil from Venezuela in March compared to 375k in March.

 

Keep reading...Show less