China's Jan crude imports from Venezuela rise 51% on month to 411,000 b/d
By Oceana Zhou / Platts
Petroleumworld 02 25 2019
China's crude imports from Venezuela surged 50.7% month on month to 411,000 b/d or 1.74 million mt in January, posting the fifth month in a row of increase after hitting a four-year low last September, data released by the General Administration of Customs showed Tuesday.
Imports from Venezuela stood at 808,593 mt last September, the lowest since September 2014, when imports totaled 607,795 mt, GAC data showed.
Despite the month-on-month surge in crude imports from Venezuela in January, the total was still down 6.5% year on year.
Among the top suppliers of crude to China in January, supply from Iran saw the deepest reduction, falling 49.6% year on year and 25.2% from December to 1.6 million mt (379,000 b/d).
There were no shipments from the US in January due to the ongoing China-US trade tensions.
The top crude oil supplier in January was Russia at 6.97 million mt, accounting for 16.4% of market share, followed by Saudi Arabia at 5.76 million mt, or 13.5%.
GAC releases data in metric tons, which S&P Global Platts converts to barrels using a 7.33 conversion factor.
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Story by Oceana Zhou from Platts / SPGlobal.
spglobal.com 02 25 2019
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