36452
China's Crude Imports Slump 
Energy

China's Crude Imports Slump 

China’s crude imports fell from a record to the lowest in three months and net oil product exports tumbled, as state refiners slowed operations amid swelling stockpiles of fuel. The world’s largest energy consumer in January cut imports by 4.6% from a year earlier to 26.69 million tons, or about 6.3 million barrels a day, according to data released by the Beijing-based General Administration of Customs on Monday, Reuters reported. Inbound crude shipments are almost 20% lower than December’s record and the least since October, Bloomberg calculations show. Oil product net exports fell 76% to 350,000 tons, a seven-month low. Imports may continue to slide this month while the country returns from last week’s Lunar New Year holiday, when it essentially shuts down for a week. The country’s total exports declined 11.2% in January in US dollar terms from a year earlier, while imports tumbled 18.8%, adding to economic challenges confronting the world’s biggest trading nation. “China’s crude imports are expected to ease following the very high level in December, as commercial oil stockpiles are quite full now,” Amy Sun, an analyst with ICIS China, told Reuters by phone.

 

Short URL : http://goo.gl/CAY4VA
  1. http://goo.gl/ht4klv
  • http://goo.gl/lO8Lk2
  • http://goo.gl/iESiFw
  • http://goo.gl/N3nrFA
  • http://goo.gl/5K2djf

You can also read ...

China Rejects US Sanctions, Vows to Continue Iran Crude Purchase
As the US and Iran continue to trade barbs over the...
Zanganeh to Attend OPEC, Non-OPEC Committee Meeting
Iran's Oil Minister Bijan Namdar Zanganeh will attend a...
India Vying for US Waiver
India, the second biggest crude customer of Iran, may cut its...
Venezuela Braces for Pricey Gasoline
Gasoline prices in Venezuela will soon catch up with world...
S. Korea Iran Crude Imports Up 15%
South Korea’s imports of Iranian crude rose around 15% in July...
Indonesia Cuts Oil Imports
Indonesia’s PT Pertamina will get an extra 225,000 barrels per...
UK's Quercus Halts Iran Renewable Project
British renewable energy investor Quercus said it will halt...
NPC Not Worried About Exports
The National Petrochemical Company is not concerned about...

Trending

Googleplus