China’s crude oil imports in August were 1.1 million bpd lower than the year-ago period and its exports were lower than expected, the latest data suggests. China imported 9.35 million bpd of oil last month, according to energy analytics provider OilX. That is half a million barrels per day higher than imports in July but 1.1 million lower than imports in August 2021. Imports from Russia were higher than a month earlier, at 1.8 million bpd, while imports from Saudi Arabia were lower than in July, at 1.5 million bpd. Refining throughput in August fell to 13.1 million bpd, OilX also said, noting this was 134,000 bpd lower on the month and 800,000 bpd lower on the year. OilX also reported that oil in floating storage off the Chinese coast has been rising, reaching some 9.7 million barrels at the beginning of this month. Oil cargo loadings for China […]