According to the official data from the General Administration of Customs released on Tuesday, the crude oil imports from the world’s second-largest oil consumer, China, rose 4.5% on an annualized basis in March. The domestic refiners took advantage of the crash in oil prices and stocked up supplies amid falling domestic demand due to the coronavirus impact. Key details “China, the world’s top crude oil importer, took in 41.1 million tonnes of oil. That is equal to 9.68 million barrels per day (bpd). The official March figure in bpd compared to an average of 10.47 million bpd for the first two months of the year. Imports in the first quarter rose 5% from a year earlier to 127.19 million tonnes, equal to 10.2 million bpd. Independent plants, also known as “teapots”, started cranking up production rates in March, as a plunge in oil prices triggered by the Saudi-Russia price war boosted margins.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Litecoin Price Analysis: LTC/USD double-bottom breakout eyes $140 FX Street 2 years According to the official data from the General Administration of Customs released on Tuesday, the crude oil imports from the world's second-largest oil consumer, China, rose 4.5% on an annualized basis in March. The domestic refiners took advantage of the crash in oil prices and stocked up supplies amid falling domestic demand due to the coronavirus impact. Key details “China, the world’s top crude oil importer, took in 41.1 million tonnes of oil. That is equal to 9.68 million barrels per day (bpd). The official March figure in bpd compared to an average of 10.47 million bpd for the first… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
