China's crude oil imports gained about 3% in August from a month earlier, c...
BEIJING/SINGAPORE - China’s crude oil imports gained about 3% in August from a month earlier, customs data showed on Sunday, buoyed by a recovery in refining margins despite a persistent surplus of oil products and tepid demand.
That equates to 9.93 million barrels per day , from 9.66 million bpd in July, and the highest on a daily basis since April. “Private refineries in Shandong are also facing difficulties in obtaining bank credit, they may not be able to use up their annual crude oil imports quotas,” said Amanda Zhao at JLC Network Technology, a Chinese commodities consultancy, before the data was released.
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