China Customs: China crude imports rise, but capped by weak 'teapot' demand - Reuters

The latest trade data published by China’s General Administration of Customs showed the Chinese crude oil imports rose slightly in July after falling for the previous two months, Reuters reports.

Key Details:

“Crude shipments came in at 36.02 million tonnes last month, or 8.48 million barrels per day, up from 8.18 million bpd a year ago, and just up on June’s 8.36 million bpd

However, July imports were still the third lowest so far this year due to a drop-off in demand from the country’s smaller independent, or “teapot”, refineries.

For the first seven months, China took in 260.83 million tonnes, or 8.98 million bpd of crude oil, up 5.6 percent from a year earlier.

China’s refined products exports last month were 4.57 million tonnes, nearly flat from a year earlier. Fuel imports rose 14 percent on year at 2.67 million tonnes.”