ALBAWABA – China oil imports surged in June to the second-highest monthly figure recorded, according to data issued by the General Administration of Customs on Thursday.
China imported 52.06 million metric tons of crude oil in June, at 12.67 million barrels per day, up from 8.72 million in June 2022, as reported by Reuters.
Customs data showed China oil imports increased by 45.3 percent year-on-year.
Oil imports in the first half of 2023 totalled 282.07 million metric tons, also up 11.7 percent from 252.52 million tons in the same period of 2022.
China oil imports also rose on a month-on-month basis, up 4.58 percent from May's 12.11 million bpd.
Meanwhile, China’s onshore oil inventories are estimated at 980 million barrels by end of June, just 20 million barrels below an all-time record in August 2020, Reuters reported.
As for natural gas, China imported 10.39 million metric tons in June, up 19.2 percent from 8.72 million a year ago when importers cut spot purchases amid high global liquefied natural gas (LNG) prices.
Total gas imports for the first half stood at 56.63 million metric tons, a 5.8 percent increase on last year.
