China’s crude oil imports hit 27-month high in November

China’s crude oil imports rose in November, hitting a 27-month high

China’s crude oil imports rose in November, with average daily inflows reaching their highest level in 27 months, supported by increased seaborne shipments and improved refining margins.

Data from the General Administration of Customs showed the country imported 50.89 million tons of crude last month, equivalent to 12.38 million barrels per day (bpd). This represents a 4.9% year-on-year increase and a 5.25% rise from October.

Total crude imports for January–November reached 521.87 million tons, up 3.2% from the same period last year, according to Reuters.

Seaborne imports from Saudi Arabia increased by 345,000 bpd to 1.59 million bpd. Imports from Iran rose by 233,000 bpd to 1.35 million bpd, while Russian shipments fell by 157,000 bpd to 1.19 million bpd, according to data from Kpler.