China: World’s top crude oil importer again in June

According to the latest China Customs data, China imported 36.11 million tonnes, or 8.79 million barrels per day (bpd) of crude oil in June, making it the top commodity buyer in the world for the second straight month in June, as reported by Reuters.

For the first six months of 2017, China shipped in 212 million tonnes of crude, or 8.55 million barrels per day (bpd), up 13.8% on the same period in 2016, Customs data showed.

Markets cite strong demand for the black gold from China is mainly driven by lower oil prices.

Also read: China’s June trade data (Yuan terms): Surprises positively as Exports jump sharply