China’s crude imports surge in March - JLC

China imported about 51.41 million mt of crude oil in March, market intelligence provider JLC reported, citing data from the General Administration of Customs (GACC).

IMAGE: Oil barrels with the Chinese flag in the background and an upward arrow depicting the surge in crude imports. Getty Images

The daily crude oil imports in March stood at 12.11 million b/d, an increase of 4.85% year-on-year, JLC reported. It marked “the highest [import level] since August 2023,” JLC added.

“The increase could be partly attributed to a recovery in demand from independent refiners following widening crude refining margins and unit restarts,” JLC said.

The uptick in Chinese crude imports directly reflects improving oil demand growth in the world’s second-largest crude oil-consuming nation and has put some upward pressure on Brent crude’s price.

However, the country imported a total of about 135.25 million mt of crude in the first quarter of this year, about 1.5% less than the corresponding period in 2024, according to JLC.

By Aparupa Mazumder

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