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China's crude imports hit-record high

Oil

China's crude oil imports in April surged by over 1M b/d m-o-m and 589K b/d y-o-y to average a record 7.4M b/d, according to data from the country's General Administration of Customs. This surpassed the previous record in December 2014 by 220K b/d and was only the second time in which China's crude imports have been above the 7M b/d mark.