CHINA'S OIL IMPORTS UP 10%
PLATTS - China's crude oil imports surged 29.9% year on year to 10.35 million b/d in December, bringing total imports to 9.28 million b/d in 2018, up 10.1% year on year, preliminary data from the General Administration of Customs showed Monday.
This was the second time China's monthly crude imports breached 10 million b/d, and was 1.2% lower than the record high of 10.48 million b/d in November 2018.
GAC releases data in metric tons, which S&P Global Platts converts to barrels using a 7.33 conversion factor.
The country's crude imports in December totaled 43.78 million mt, up 2.1% from 42.87 million mt in November, the preliminary GAC data showed.
Fuel oil imports stood at 1.51 million mt in December, increasing 13.6% year on year. This pushed the country's total fuel oil imports higher by 23.3% from 2017 to 16.61 million mt in 2018.
China's oil product exports reached 5.86 million mt in December, GAC data showed.
Exports had fallen 5% year on year despite new export quotas being issued for December.
Over January-December, China's oil product exports totaled 58.64 million mt, up 12.4% year on year, the data showed.
PRELIMINARY IMPORT, EXPORT DATA (mil mt)
|Net crude imports||43.76||33.54||30.5%||42.61||2.7%|
|Oil product imports||3.01||2.74||10.0%||3.10||-2.8%|
|Oil product exports||5.86||6.17||-5.0%||4.47||31.2%|
|Net oil product exports||2.85||3.43||-17.0%||1.37||108.3%|
|Fuel oil imports||1.51||1.33||13.6%||1.50||0.9%|
|Jan-Dec 18||Jan-Dec 17||Change|
|Net crude imports||459.27||414.60||10.8%|
|Oil product imports||33.48||29.64||13.0%|
|Oil product exports||58.64||52.16||12.4%|
|Net oil product exports||25.15||22.52||11.7%|
|Fuel oil imports||16.61||13.47||23.3%|
Source: China's General Administration of Customs
|February, 18, 12:30:00|
|February, 18, 12:25:00|
|February, 18, 12:20:00|
|February, 18, 12:15:00|
|February, 18, 12:10:00|
|February, 18, 12:05:00|
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