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[size=36]China's crude oil imports in May fell from a record low in April[/size]
Economy | 12:05 - 10/06/2019
Follow - up to the balance of News
Customs data showed that China 's imports of crude oil fell eight percent in May , the highest level ever and recorded in the previous month, while offsetting the Beijing, the largest importer of crude oil in the world, and its imports from Iran in light of tightening US sanctions on Tehran.
Qingdao Petroleum Port. Reuters image banned from use in China. Prohibits the sale of the image for commercial or editorial campaigns in China ,
General Administration of Customs data showed on Monday that China 's imports of crude oil fell to 40.23 million tons in May , from 43.73 million tons in April.
Reuters calculations show that this is equivalent to 9.47 million barrels per day, down 11 percent from April, a May increase compared to that, due to lower imports from Iran. While a number of major state oil refineries have been closed for periodic maintenance .
China began cutting its imports of Iranian crude in May in the face of tougher US sanctions on Tehran's oil sales.
China has instead stepped up purchases from other suppliers in the Middle East, such as Saudi Arabia, Iraq, the United Arab Emirates and Brazil.
But China's oil imports in the first five months of 2019 totaled 205 million tons, up 7.6 percent from the same period last year.
Meanwhile, China's oil exports in May also slowed to 4.49 million tons, down from 6.17 million tons in April, customs data showed.
Exports of oil products in the first five months amounted to 27.09 million tons, up from 25.55 million tons in the same period in 2018.
China's total imports of gas, including liquefied natural gas (LNG) and imports through pipelines, continued to decline before the summer.
Gas imports amounted to 7.56 million tons in May, up 3.6 percent from the same month last year but slightly below 7.65 million tons in April, the data showed.
Customs data showed that China 's imports of crude oil fell eight percent in May , the highest level ever and recorded in the previous month, while offsetting the Beijing, the largest importer of crude oil in the world, and its imports from Iran in light of tightening US sanctions on Tehran.
Qingdao Petroleum Port. Reuters image banned from use in China. Prohibits the sale of the image for commercial or editorial campaigns in China ,
General Administration of Customs data showed on Monday that China 's imports of crude oil fell to 40.23 million tons in May , from 43.73 million tons in April.
Reuters calculations show that this is equivalent to 9.47 million barrels per day, down 11 percent from April, a May increase compared to that, due to lower imports from Iran. While a number of major state oil refineries have been closed for periodic maintenance .
China began cutting its imports of Iranian crude in May in the face of tougher US sanctions on Tehran's oil sales.
China has instead stepped up purchases from other suppliers in the Middle East, such as Saudi Arabia, Iraq, the United Arab Emirates and Brazil.
But China's oil imports in the first five months of 2019 totaled 205 million tons, up 7.6 percent from the same period last year.
Meanwhile, China's oil exports in May also slowed to 4.49 million tons, down from 6.17 million tons in April, customs data showed.
Exports of oil products in the first five months amounted to 27.09 million tons, up from 25.55 million tons in the same period in 2018.
China's total imports of gas, including liquefied natural gas (LNG) and imports through pipelines, continued to decline before the summer.
Gas imports amounted to 7.56 million tons in May, up 3.6 percent from the same month last year but slightly below 7.65 million tons in April, the data showed.
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