China’s crude oil imports in January 2019 grew 5.1% year on year to 10.07 million b/d, preliminary data from the General Administration of Customs showed Thursday. This was the third time China’s monthly crude imports breached 10 million b/d, despite dropping 2.7% from 10.35 million b/d in December 2018. GAC releases data in metric tons, which S&P Global Platts converts to barrels using a 7.33 conversion factor. The country’s crude imports in January totaled 42.59 million mt, down 2.7% from 43.78 million mt in December, the preliminary GAC data showed. Trading and refining sources said refineries had taken many barrels for delivery by end-2018, but logistical constrains had held up several vessels scheduled for second-half December delivery in long vessel queues and could only discharge their cargoes in January. China’s independent refineries had rushed to […]