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According to preliminary data released by the General Administration of Customs of China on Tuesday, China's crude oil imports in September reported 27.
95 million tons.
According to Bloomberg calculations, this figure equates to an average daily import of about 6.
83 million barrels, up 8.
6%
from August.
China, which jumped to become the world's largest crude buyer in June and April, has amassed about 200 million barrels of crude so far, with a goal of reaching 500 million barrels
by the end of 2020, according to the International Energy Agency.
China's overall import expansion in September followed its longest losing streak in six years, highlighting the rebalancing process in China and the headwinds
to global growth from falling commodity prices.
According to Amy Sun, an Axis analyst, the crude oil processing rate of Chinese refineries reached a three-month high
in September.
Commercial crude inventories declined in late August, making more room
for crude storage.
According to customs data, China's crude oil imports from January to September rose 8.
8% year-on-year to 249 million tons
.
According to preliminary data released by the General Administration of Customs of China on Tuesday, China's crude oil imports in September reported 27.
95 million tons.
According to Bloomberg calculations, this figure equates to an average daily import of about 6.
83 million barrels, up 8.
6%
from August.
China, which jumped to become the world's largest crude buyer in June and April, has amassed about 200 million barrels of crude so far, with a goal of reaching 500 million barrels
by the end of 2020, according to the International Energy Agency.
China's overall import expansion in September followed its longest losing streak in six years, highlighting the rebalancing process in China and the headwinds
to global growth from falling commodity prices.
According to Amy Sun, an Axis analyst, the crude oil processing rate of Chinese refineries reached a three-month high
in September.
Commercial crude inventories declined in late August, making more room
for crude storage.
According to customs data, China's crude oil imports from January to September rose 8.
8% year-on-year to 249 million tons
.
