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China's Refined Oil Imports Jump 28.4% In August

Refinery

China’s imports of refined oil products in August jumped by 462,000 mt or 28.4% from the previous month but dropped by 615,000 mt or 22.7% from year-ago level to 2.089 million mt, according to Chinese customs data.

The total value of August imports reached $1.194 billion, a month-on-month increase of $224 million or 23.1%, a drop of $509 million or 29.9% year on year, the General Administration of Customs (GAC) said on September 8.

In January-August, China imported 20.492 million mt of refined oil products, 6.3% lower than a year before, which totaled $11.419 billion, a year-on-year drop of 11.9%, GAC data showed.

The country’s exports of oil products in August were 1.414 million mt or 25.8% lower at 4.075 million mt from month-ago level and decreased by 1.245 million mt or 23.4% from the same month of last year, according to GAC.

The total value of the exports reached $2.407 billion, $804 million or 25% lower from July, $947 million or 28.2% lower from year-ago level, data from GAC showed.

Over the first eight months of this year, China exported 40.174 million mt of refined oil products, 4.7% higher from a year before. The total value held steady at $24.134 billion.

By JLC International

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