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China’s Crude Imports From All Major Suppliers Rise M-o-M

Oil

China’s crude oil imports from all major suppliers rose m-o-m in February, as total imports increased by 273K b/d from January, China Customs data shows. The largest m-o-m growth came from the Caribbean and Latin America, with volumes rising by 142K b/d to 1.11M b/d. Imports from the Middle East rose by 89K b/d from the prior month to 3.99M b/d, while China’s intake of West African crude edged upwards by 11K b/d m-o-m to 1.39M b/d. Supplies from Russia also rose, increasing by 37K b/d to 1.12M b/d. Outside of the largest suppliers, imports from i) Europe climbed by 133K b/d from January to 222K b/d, ii) the Mediterranean increased by 51K b/d m-o-m to an 18-month high of 126K b/d, iii) Asia dropped by 125K b/d m-o-m to a 13-month low of 212K b/d, while iv) imports from the US dropped by 61K b/d m-o-m to zero.