China’s Crude Oil Imports Fall to 4-Month Low in May Amid Refinery Maintenance

China’s Crude Oil Imports Fall to 4-Month Low in May Amid Refinery Maintenance

Reduced Demand Due to Processing Cuts

China's crude oil imports fell to 46.6 million tons in May, equal to 11 million barrels per day (bpd), according to data released by the General Administration of Customs at the start of the week. This marks a 4-month low, down from 11.7 million bpd in April.

Refinery Maintenance Drives the Decline

The decline, though significant, was not entirely unexpected. Chinese energy consultancy Oilchem previously reported that as much as 2.6 million bpd of processing capacity was offline in May due to scheduled maintenance activities at multiple refineries.

As a result, crude throughput dropped, causing lower import demand for the month. Commodity intelligence provider Kpler also confirmed that refineries scaled back crude purchasing for May, in anticipation of lowered processing output.

Market Implications

This decline in China’s crude intake may impact global oil market sentiment, especially as other major economies are also adjusting energy import volumes amid economic and policy shifts. However, as maintenance concludes, imports could rebound in June, especially if domestic demand remains strong.

Internal Linking Suggestions for Tredu.com:

• China Oil Demand Forecast & Real-Time Data
• Kpler and Oilchem Insights
• Crude Oil Live Prices and Market Trends
• Asia Energy Market Analysis