China’s crude oil imports in October were up 18% from the same month last year to 24.09 million mt, or an average 5.7 million b/d, preliminary data from the General Administration of Customs showed Saturday, November 8. The volume, however, fell 15.4% month on month. The elevated year-on-year growth rate last month was against a low base in October 2013, when China’s crude inflows had slumped to a 14-month low of 4.83 million b/d. China did not export any crude in October. Over January to October, China’s total crude imports rose 9.2% year on year to 252.6 million mt, averaging 6.09 million b/d. This is the highest rate of year-on-year growth for the 10-month period since 2010, when expansion was 19.5%. LARGEST LEVEL OF NET […]