Chinese crude oil imports recovered in October – JLC

China’s crude oil imports rebounded in October, after a decline in September, market intelligence provider JLC reported citing data from China’s General Administration of Customs (GACC).

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China imported about 48.97 million mt (11.58 million b/d) of crude oil in October, up 7% from 45.74 million mt (11.17 million b/d) in September, GACC data showed.

“The upswing came as China’s daily crude runs set another record high in September 2023, driven by expectations of peak demand during the Golden Week holiday,” JLC added.

Chinese crude imports saw a 13.5% increase on a year-on-year comparison, JLC reported citing GACC data.

CHART: China's crude oil imports from 2021-2023. JLC/GACC

The country slashed its crude imports in September because of a large stockpile of imports made earlier this year coupled with high oil prices, JLC had previously stated.

China has imported a total of 473.22 million mt (11.36 million b/d) of crude oil in the first ten months of the year, GACC data showed.

By Aparupa Mazumder 

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