After a drop in March, China’s oil imports have recovered.

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In April, China imported over 10.5 million barrels per day, up 6.6 percent from the previous year. China’s crude oil imports have increased for the first time in three months. When compared to the same month a year ago, April deliveries grew by over 7%. However, the coronavirus continues to be wreaking havoc on Chinese refineries..

However, imports fell by 4.8 percent in January-April compared to the same time previous year, averaging 10.4 million barrels per day. Furthermore, the productivity of China’s independent refineries decreased by 6% last month, the lowest level since the lockdown began.

Exports, at 3.82 million tons, were greater than experts had predicted. However, this is still 44% less than in 2021, and about 7% less than in March. As a result of lower domestic call for fuel, refineries selected to decrease stock levels. In April, 8.09 million tons of natural gas were imported, down from 10.15 million tons the previous month.

High spot LNG prices continue to stymie purchases: imports of liquefied natural gas were 4.64 million tons in April, down nearly 32% from the previous year.

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