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OilMonster
Crude Oil June 08, 2021 02:30:45 AM

China’s May Crude Oil Imports Drop 15% on Year as Overhauls Bite

Anil
Mathews
OilMonster Author
May arrivals were 40.97 million tonnes, data released by the General Administration of Customs showed on Monday.
China’s May Crude Oil Imports Drop 15% on Year as Overhauls Bite

SEATTLE (Oil Monster): China’s crude oil imports in May dipped 14.6% from a high base a year earlier, with maintenance at refineries limiting consumption of the raw material.

May arrivals were 40.97 million tonnes, data released by the General Administration of Customs showed on Monday, equivalent to 9.65 million barrels per day (bpd).

That compares to 9.82 million bpd in April and 11.3 million bpd in May last year when Chinese buyers snapped up cheap oil amid the spread of the coronavirus. 

Courtesy: www.reuters.com               

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