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China's crude oil import up 7.39% in Jan

Feb. 14, 2012 (China Knowledge) - China imported 23.41 million metric tons of crude oil, equivalent to 5.51 million barrels per day, in January 2012, 7.39% more than that of January 2011, according to statistics released by the General Administration of Customs.

The crude oil imports for last month also increased by 6.8% or 1.49 million metric tons month on month.

In January 2012, China's refined oil import hit a four-month lowest of 2.95 million metric tons, reflecting a year-on-year decline of 23.38%, or a sequential decrease of 26.98% or 1.09 million metric tons.

The export volume of the country's refined oil for last month dropped 13.08% from a year earlier to 1.86 million metric tons, which was also 17.33% or 390,000 metric tons less than that of December 2011.

In 2011, China's crude oil import stood at 5.08 million barrels per day, up 6% from a year earlier, and the growth was the lowest since 2006, sources reported.

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