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China's crude imports rise more than 1.5M b/d y-o-y for second consecutive month

Oil

China's crude oil imports in July increased by 56K b/d m-o-m and 1.6M b/d y-o-y to average 7.3M b/d, according to the country's General Administration of Customs. This is the second highest volume on record after April's 7.4M b/d. Over the first seven months of 2015, China's crude imports have averaged 6.7M b/d, up 639K b/d y-o-y. Reuters reports that China may have refilled some of its crude stocks amid record high domestic crude refinery throughputs and softening oil prices.