China’s crude oil imports fell 4.7% on the month to 10.03 million b/d in September, latest data from the General Administration of Customs, or GAC, showed Oct. 13.  The reduction indicated weak momentum for imports for the rest of the year, analysts said. The country’s crude imports have been under pressure due to destocking activity and limited import quotas, which recovered to 10.53 million b/d in August. This was the first time since April that imports had crossed the 10 million b/d mark. Data intelligence firm Kpler showed that China’s crude inventory fell 2.1% from August to 847.32 million barrels in September, indicating that destocking had continued amid rising crude markers. It is more likely that state-run oil companies had contributed most to the decline both in the country’s crude imports and inventory in September […]