China’s crude oil imports surged 34.4% year on year to all-time high of 12.99 million b/d or 53.18 million mt in June as Chinese buyers who rushed into the market to secure cheap crudes in late March received their deliveries in the month, preliminary General Administration of Customs data showed July 14. Receive daily email alerts, subscriber notes & personalize your experience. Register Now It was the first time China’s monthly crude imports had surpassed 12 million b/d, and was 14.6% higher than the previous record high of 11.34 million b/d in May, GAC data showed. The record-high inflow was within expectations, but has caused serious congestion in China waters, S&P Global Platts has reported. The record June volume brought imports for the first half of 2020 to 10.82 million b/d, up 9.3% on year, despite inflow hitting an eight-month low of 9.72 million b/d in March […]