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China's crude oil import up 12.35% in July

Aug. 14, 2012 (China Knowledge) - China, the world's second largest oil consumer after the U.S., imported 21.83 million metric tons of crude oil in July this year, 12.35% more than that in the same month of last year, according to the latest figures from China's General Administration of Customs.

The figure last month was the lowest level since November 2011.

Meanwhile, the country's daily crude oil import reached 5.14 million barrels, more than 4.58 million barrels it realized a year earlier, but lower than 5.29 million barrels in Jun 2012. The average import price decreased 9.75% YoY to US$98.74 per barrel.

In the first seven month of this year, China's crude oil import amounted to 161.9 million metric tons, up 10.2% from a year earlier.

In Jul 2012, China exported 1.77 million metric tons of crude oil, down 22.37% YoY or 14.49% MoM. The average export price dropped 0.17% from a year earlier to US$848.34 per metric tons.

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