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West Africa’s Share Of Chinese Crude Imports Rise In January

Oil

China’s crude oil imports from West Africa in January increased by 238K b/d m-o-m and 395K b/d y-o-y to an 11-month high of 1.4M b/d, according to the country’s General Administration of Customs. This was in contrast to other major crude suppliers to China, who instead saw volumes decline m-o-m as the country’s overall crude imports dropped by 555K b/d from December’s record high to 8M b/d. Although a 1.7M b/d y-o-y increase in total imports meant that, volumes were still up from January 2016 for most regions. This pattern included shipments from the Middle East (-174K b/d m-o-m, +584K b/d y-o-y to 3.9M b/d), the Caribbean and Latin America (-353K b/d m-o-m, +153K b/d y-o-y to 973K b/d) and Russia (-105K b/d m-o-m, +290K b/d y-o-y to 1.1M b/d).