Chinese crude imports fall in September

Oil

Chinese crude imports fell 0.5M b/d m-o-m and 1.8 M b/d y-o-y to 10.0 M b/d in September according to preliminary data from the General Administration of Customs. Across the first nine months of the year crude imports averaged 10.4 M b/d, compared to 11.1 M b/d from the same period in 2020. Imports have been slower in 2021 due to reduced quotas for both crude and refined products and higher oil prices, Reuters reported.