China’s crude imports rose 7.5% from year earlier in April

The data from Chinese customs shows that the country’s imports of Russian crude oil in April fell 12.9% from a year earlier and reached 8.07 million tons, or 1.96 million barrels per day (bpd). Besides, Russian supplies to China dropped 5.8% in monthly terms, down from 2.08 million bpd in March. 

Meanwhile, China purchased 7.95 million tons of crude (1.93 million bpd) from Malaysia, the main trans-shipment hub for Iranian oil. This reading is 6.3% down from March, but 96.9% up from a year earlier. 

Imports from Saudi Arabia, China's third-largest oil supplier, declined 12.8% on an annual basis in April and stood at 5.53 million tons, or 1.35 million bpd. 

The total volume of crude supplies to China last month reached 48.06 million tons, or 11.69 million bpd. The country’s oil imports were lower compared to March, yet up 7.5% from the previous year, driven by deliveries of shipments which had fallen under restrictions and state refiners building stocks.