China’s Crude Oil Imports Increased For The Second Month

Chinese customs data showed that China’s imports of crude oil jumped 34% in June on an annual basis; this is the record for the second month in a row next to the arrival of shipments purchased during the collapse of oil prices last April to Chinese ports.

Data showed that China, the world’s largest oil importer, imported about 53.18M tons of oil during last June equivalent to 12.9M bpd. That data beat reading in May, as imports hit a record high of 11.3M bpd.

China imported 268.75M tons of crude oil in the first half of this year, equivalent to 10.78M bpd, up 9.9% compared to the same period last year.