Singapore — China's crude oil imports in November recovered 10.1% to 11.08 million b/d from a 6-month low in October, but remained 0.8% lower than the 11.18 million b/d of inflows a year ago, data released Dec. 7 by the General Administration of Customs showed.
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The GAC releases data in metric tons, which S&P Global Platts converts to barrels using a 7.33 conversion factor.
On a metric tons basis, the November imports rose 6.6% from October to 45.36 million mt. This brought China's crude imports in the first 11 months to 11.03 million b/d, rising 9.2% year on year.
Meanwhile, the country's oil product exports fell 14.5% to 4.95 million mt in November from the six-month high of 5.79 million mt in October. The volume also slumped 32.2% year on year, GAC data showed.
Over January-November, China's total oil product export volume fell 6.9% on the year to 55.93 million mt, resulting in the country's net oil product exports declining 9.3% year on year to 29.76 million mt
CHINA'S PRELIMINARY IMPORT, EXPORT DATA (UNIT: MIL MT)
Source: China's General Administration of Customs