According to data released by the General Administration of Customs of China, during the early hours of this morning, China’s imports of crude oil jumped 34% last June on an annual basis, indicating a record for the second consecutive month. This comes with the arrival of shipments purchased during the collapse of oil prices last April to Chinese ports.
The data showed that China, the world’s largest oil importer, imported about 53.18 million tons of oil during last June, equivalent to about 12.9 million barrels per day. This data exceeded the previous reading during May, as imports also recorded a record rise to levels of 11.3 million barrels per day.
The data showed that during the first half of this year, China imported a total of 268.75 million tons of crude oil, equivalent to 10.78 million barrels per day, an increase of about 9.9% compared to the same period last year.