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Markets

China Nov crude imports 2nd highest on record

Published December 10, 2011 Updated December 10, 2011 05:02am

curdBEIJING: China's crude oil imports in November rose 8.5 percent over a year earlier to about 5.52 million barrels per day, the second highest on record on a daily basis, official customs data showed on Saturday.

The hefty imports match China's refinery production which hit a record last month at about 9.22 million bpd, as plants revved up output to cover a diesel shortage.

China, the world's second-largest crude buyer after the United States, brought in 22.69 million tonnes crude in November, according to data posted at the website of the General Administration of Customs.

That amount, equivalent to about 5.52 million bpd, rose 620,000 bpd, or nearly 13 percent from October's level at 4.9 million bpd, and was just second to the all time high hit in September 2010 at 5.67 million bpd.

The data also showed China raised oil product imports to 3.35 million tonnes, up 15 percent compared to October.

Copyright Reuters, 2011

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