China’s crude imports rise 2.1% in September vs. previous month

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China's crude imports rise 2.1% in September vs. previous month




FILE PHOTO: Employees close a valve in a pipeline at a PetroChina refinery in Lanzhou, Gansu province.


© Reuters/Stringer Shanghai
FILE PHOTO: Employees close a valve in a pipeline at a PetroChina refinery in Lanzhou, Gansu province


BEIJING, Oct 13 (Reuters) – China’s oil imports rose 2.1% in September from the previous month, as some delayed shipments were finally able to advance after months of port congestion, while storage capacity in earth expanded.

China, the world’s leading oil importer, bought 48.48 million tons of oil from abroad last month, according to data released Tuesday by the General Administration of Customs. The figure is equivalent to 11.8 million barrels per day (bpd).

The September result compares with 11.18 million bpd imported in August and 10.04 million bpd in September last year, although it is still below the all-time high of 12.94 million bpd acquired in June.

In the first three quarters of 2020, China imported a total of 416 million tons of crude, according to Customs data, or about 11.08 million bpd, an increase of 12.7% compared to the same period of the year. last year.

Storage facilities for crude inventories in China’s main ports were near their maximum capacity in July and August, after accelerated purchases generated by the collapse of oil prices in April, in the middle of the economic crisis due to the pandemic. .

(Reports by Muyu Xu and Chen Aizhu. Edited in Spanish by Marion Giraldo)

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