China’s daily crude imports retreat in September – JLC

China imported about 47.25 million mt of crude oil in September, market intelligence provider JLC reported, citing data from the General Administration of Customs (GACC).

IMAGE: The Chinese flag. Getty Images

The country's crude oil imports averaged 11.50 million b/d in September, down 1.3% month-on-month, JLC reported.

China's crude imports declined last month due to some stockpile building earlier this year, JLC said.

“Some independent refiners are running short on crude quotas and they may cut their refining throughput in the last quarter of the year,” JLC added.

However, on a year-on-year comparison, China’s crude imports gained by about 4% last month.

“China has been ‘hoovering up’ excess [crude] supply this year,” remarked ANZ Bank’s senior commodity strategist Daniel Hynes.

China has imported a total of about 423 million mt of crude in the first nine months of this year, about 2.6% higher than the corresponding period in 2024, according to JLC.

By Aparupa Mazumder

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