China’s daily crude imports retreat in July - JLC

China imported about 47.20 million mt of crude oil in July, market intelligence provider JLC reported, citing data from the General Administration of Customs (GACC).

IMAGE: The Chinese flag. Getty Images

The daily crude oil imports in July stood at 11.12 million b/d, a decrease of 8.4% month-on-month, JLC reported.

Chinese crude imports have plunged at the same time as oil prices have declined, with both trends unfolding against the backdrop of mounting concerns over slowing demand growth.

“Chinese companies decreased their purchase of imported crude for arrival in July, after buying large volumes for June arrival in anticipation of rising domestic demand,” JLC said.

However, on a year-on-year comparison, China’s crude imports grew a massive 11.5% last month.

The country has imported a total of about 326.6 million mt of crude in the first seven months of this year, about 2.8% higher than the corresponding period in 2024, according to JLC.

By Aparupa Mazumder

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