Chinese oil imports surge as KSA reclaims export mantle

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Wed, 2020-01-15 01:07

SINGAPORE: China’s crude oil imports in 2019 surged 9.5 percent from a year earlier, setting a record for a 17th straight year, as demand growth from new refineries built last year propelled purchases by the world’s biggest importer, data showed on Tuesday.

Last year, China imported a record 506 million tons of crude oil, according to data from the General Administration of Customs. That is equivalent to 10.12 million barrels per day (bpd), according to Reuters’ calculations based on the data.

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