China’s crude imports recover in August

摘要

Singapore—China’s crude oil imports in August recovered to 25.19 million mt, or an average 5.96 million b/d, surging 17.5% year on year, according to preliminary data released Monday by the country’s General Administration of Customs. The volume was 6% higher than the July inflows of 5.62 million b/d, which had fallen 9% year on year and marked the first contraction in crude imports since October 2013. Some analysts attributed the subdued July imports to refinery turnarounds as well as high domestic crude inventories and this had been expected to pick up in August due to a projected rise in refinery runs.