China’s Crude Imports From The Americas Rise To Record High
China’s combined crude oil imports from the Americas (including North, Central and South America) in June increased by 417K b/d m-o-m and 618K b/d y-o-y to a record high of 1.72M b/d, according to data from the country’s General Administration of Customs. This came amid total imports of 8.82M b/d, the second highest on record and up by 28K b/d m-o-m and 1.34M b/d y-o-y. The overall record for imports from the Americas included new highs from both Brazil (+185K b/d m-o-m and +375K b/d y-o-y) and the US (+88K b/d m-o-m and +234K b/d y-o-y). In contrast, imports from other major suppliers fell m-o-m, including the Middle East (-157K b/d m-o-m and -224K b/d y-o-y), Russia (-81K b/d m-o-m but +272K b/d y-o-y) and West Africa (-319K b/d m-o-m but +287K b/d b/d y-o-y).