China imports record levels of US crude oil in September

Oil

China’s crude oil imports from the US increased by 430K b/d m-o-m and 830K b/d y-o-y to 950K b/d in September, rising to a record high as total imports rose by 620K b/d to 11.85M b/d for the month, according to China customs data. Saudi Arabia was the largest supplier however, with China importing 1.9M b/d, an increase of 660K b/d m-o-m and 150K b/d y-o-y. Total imports from the Middle East rose by 550K b/d m-o-m to 5.55M b/d, which is the third highest on record. Loadings from Russia grew by 460K b/d m-o-m to 1.83M b/d, making it China’s second largest supplier.