China‘s crude oil imports rose 23 per cent in April from a year ago to a record monthly high according to a report by the Chinese General Administration of Customs.
Imports in April totalled 14.8 million tonnes, or an average of 3.62 million barrels a day, the report showed. Imports for the January to April period rose 10.8 per cent from a year earlier to 54.46 million tonnes, or 3.33 million barrels a day.China‘s oil imports vastly outweigh its exports. China exported just 550,000 tonnes of crude oil in April. For January-April, crude oil exports fell 55.4 per cent from a year ago to 1.07 million tonnes.
And the discrepancy between exports and imports is likely to grow and grow.