China's Crude Oil Imports Dropped by 6% Year-Over-Year in March

Chinese imports of crude oil fell by 6% in March compared to the same month a year earlier but were higher than in January and February of this year.

Chinese imports of crude oil fell in March by 6% compared to the same month last year as first-quarter crude imports were stable year-over-year amid high volumes of Russia n crude flowing to China . China imported 49.05 million metric tons of crude oil last month, which is equal to around 11.55 million barrels per day bpd, per data from the Chinese General Administration of Customs cited by Reuters. While lower by 6.

But the slight increase in Chinese crude imports in the first quarter shouldn’t be viewed as a sign that China’s inconsistent economic performance over the past year is over. In fact, much of the increase in Chinese crude oil imports in recent weeks has been due to cheap abundant flows of Russian crude, which – hampered en route to India by the U.S. sanctions – has found a home in the world’s top crude oil importer, analysts say.

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Crude Oil Imports March Russia Demand Supply

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