Chinese refineries are buying up large quantities of oil after the fall of the prices of the pandemic.
Kitada consecutive months updates the record for oil imports, writes агентствоReutersсо to data by the General administration of customs of PRC.
So, in June, oil imports rose by a third in annual terms — up to 53,18 million tons, equivalent to 12.9 million barrels per day.
“The figure easily broke the previous record in may at 11.3 million barrels a day means an increase of 34% from 9.63 million barrels a day in June 2019”, — stated in the message.
In just six months, China bought 268,75 million tons of oil or of 10.78 million barrels of raw material daily. This is 9.9% more than a year ago.
It is noted that imports grow against the desire of oil refineries to buy raw materials at competitive prices, which fell because of the pandemic coronavirus.
Analysts believe that in the third quarter, oil imports to China will decline as the recovery in oil prices weakens demand, and refineries remain prepared for a possible second outbreak of the coronavirus.
At the same time, gas imports to China in June amounted to 8.33 million tons (growth on 11%). In just six months, purchased 48,36 million tons of oil (growth by 3.3%).