China Crude Oil Import Volume Declined by 4.2% in May

According to sources, China’s crude oil imports in May stood at 9.23 million b/d or 39,050kt, down 4.2% from the record high in April on a barrels per day basis. Moreover, China’s oil product exports in May rose by 19.8% M-O-M to 6,130 kt, as export quotas allocated were sufficient. Therefore, China’s net oil product exports reached 3,110 kt in May, up 1,600kt or 105.96% Y-O-Y.