CHINA DATA: May crude imports gain 3% to 10.8 mil b/d from April

China's crude oil imports in May extended the continuous monthly recovery and gained 3.1% from April to 10.84 million b/d, data from the General Administration of Customs showed June 9.

The recovery started in March, rising 6.2% from a four-month low of 9.51 million b/d in February, GAC data showed.

The volume in May also represented a robust year-on-year growth of 11.9%.

GAC releases data in metric tons, which S&P Global Commodity Insights converts to barrels using a 7.33 conversion factor. On a metric tons basis, the 45.83 million mt in May was 6.5% higher than the April level.

This led Asia top consumer's crude imports in January-May amount to 216.71 million mt, or 10.52 million b/d, edging down 1.7% year on year, the data showed.

Oil products exports fell 14.4% to a five-month low at 3.27 million mt from April.

On year-on-year basis, the outflows slumped 39.5% in May and drew down the volume by 38.5% to 18.45 million mt in the first five months.

China also cut its oil products imports to 9.98 million mt in January-May.

The reduction of 3.8% year on year was far behind the exports drop, resulting in net exports to be more than halved to 8.5% in the first five months, the data showed.

China's preliminary oil trade data:

(million mt)

Source: General Administration of Customs