Chinese crude imports fell to 11.18mn b/d for September from August’s near-record 12.47mn b/d according to freshly-released headline statistics. Average volumes of 11.39mn b/d for the first nine months of 2023 are up 15% year-on-year and on track to smash 2020’s annual record of 10.86mn b/d.
Figures from data intelligence firm Kpler indicate that arrivals from both of China’s top two suppliers, Russia and Saudi Arabia, fell in September. Seaborne arrivals from Russia were 1.16mn b/d, implying around 2mn b/d when factoring in typical overland shipments. This compares to a near-record 2.48mn b/d for August. Arrivals from Saudi, meanwhile, were just 1.41mn b/d for September according to Kpler, the second lowest figure this year and down almost 500,000 b/d from August’s 1.89mn b/d. (CONTINUED - 133 WORDS)