Australia’s crude oil imports rise to six-month high

Oil

Australia’s crude oil imports increased by 83K b/d m-o-m to 286K b/d in October, rising to the highest level since April according to data from the Department of Industry, Science, Energy and Resources.  This is a decline of 122K b/d y-o-y however, and is 77K b/d lower than the five-year average for October. Crude exports declined by 107K b/d m-o-m and 80K b/d y-o-y to 228K b/d, falling for the second consecutive month to the lowest level since July. Crude oil production edged up by 10K b/d m-o-m to 143K b/d, increasing to the highest level since June.