China January-February crude oil imports rise 5.2% year-on-year on pre-virus restocking [Reuters]
PetroChina Company Limited (PTR)
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Source: Reuters
China January-February crude oil imports rise 5.2% year-on-year on pre-virus restocking BEIJING (Reuters) - China’s crude oil imports over the first two months of 2020 rose 5.2% from a year earlier despite the spread of the coronavirus, customs data showed on Saturday, as refiners built up inventories of feedstock ahead of the Lunar New Year holiday. Crude oil arrivals for the world’s biggest oil importer were 86.09 million tonnes in January and February, equivalent to 10.47 million barrels per day (bpd). That was up from 81.83 million tonnes, or 10.12 million bpd, in the same period for last year but down from 10.7 million bpd in December. Natural gas imports were also up year-on-year, climbing 2.8% to 17.8 million tonnes. The General Administration of Customs said last month it would combine preliminary trade data for January and February instead of releasing data for individual months. Early-year data in China is typically distorted by the week-long Lunar New Year holiday, while th
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