China’s May crude imports dip from record but up on year as demand concerns loom

摘要

Singapore-China’s crude oil imports in May eased from record-high April levels but were up 3% year on year even amid worries over oil demand growth, with participants concerned broader economic indicators show signs of stress on the back of slowing trade volumes and tariff disputes with the US. China imported 9.51 million b/d of crude oil in May, down 11%, or over 1 million b/d, from April’s record-high 10.68 million b/d, preliminary data from the General Administration of Customs showed Monday. GAC releases data in metric tons, which S&P Global Platts converts to barrels using a 7.33 conversion factor.