• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 3 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 8 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours What-If - Russia decided to take out the Saudi and Kuwait oilfields
  • 7 hours "As the Earth Cools, the Climate Change Hoax Heats Up" by Michelle Edwards
  • 7 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 4 hours 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 2 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 3 days "Mexico Plans to Become an Export Hub With US-Drilled Natural Gas" - Bloomberg - (See image)
  • 4 hours The United Nations' AGENDA 2030 - The vision for One World Governance ...an article by the famous Dr Robert Malone
  • 10 hours PROFOUND ! "Russian Ruble relaunched linked to Gold and Commodities" by the famous Ronan Manly -- (NOTE the censorship by the MultiPolar New World Order of The Great Reset))
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

A Red Flag For Oil? China’s Crude Imports Drop To 7-Month Low

Chinese crude oil imports in July dropped to their lowest level in seven months, although they rose 12 percent on an annual basis, according to calculations made by Reuters on the basis of China’s customs data.

Last month China imported some 34.66 million tons of crude oil, or around 8.16 million bpd, which—according to Reuters calculations based on China’s General Administration of Customs data—was the lowest level since January.

Crude oil imports in the first seven months of this year increased by 13.6 percent at 247 million tons.

In the first half of the year, Chinese crude oil imports averaged 8.55 million bpd, or 212 million tons in total – a 13.8-percent annual increase.

The total trade data for July had analysts worried that China’s economy may have started to show signs of slowdown. Both exports and imports increased less than expected, making analysts wonder if global demand growth has started to slow down, or if China’s July trade figures should be attributed solely to one-off or seasonal factors.

In total imports, China’s imports increased by 11 percent last month, missing forecasts for a 16.6-percent rise, and slowing down from June’s 17.2-percent jump, to the slowest growth since December last year.

Last month, a senior manager at Sinopec said that lower domestic production and continued low oil prices will lead to China’s demand for crude oil imports rising by around 400,000 bpd in 2017. Chinese crude oil imports are expected to exceed 400 million tons this year, and to further rise next year, Zhang Haichao, vice president of Sinopec Group, told Reuters. The estimate provided by Zhang means that Chinese demand for foreign crude would rise by 400,000 bpd, and for the first time ever, rising imports could make China the world’s top crude oil importer on an annual basis, according to Reuters.  

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News