Chinese oil imports up more than 10 percent

9 Jun 2017   China

Crude oil deliveries to China on the rise and means the second-largest economy in the world is the top crude oil importer. Photo by Pepj/Shutterstock June 8 (UPI) — Customs data published Thursday from the Chinese government revealed the country is the largest importer of crude oil in the world. The General Administration of Customs reported that both imports and exports increased in China in May. Chinese exports were up 15.5 percent year-on-year, while imports into the second-largest economy in the world were up 22.1 percent, an increase from the gain of 18.6 percent in April. For the first five months of the year, data show Chinese crude oil imports were up 13.1 percent year-on-year, making China the world’s largest oil importer. The data, published Thursday by China’s official Xinhua News Agency, followed a report from Dutch commodity trader Trafigura that oil and petroleum product sales were up 25 […]

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