China Customs announced that 10.82 million tons of crude oil had been imported in October, 3.8 percent less than last year, equivalent to 2.56 million barrels per day. This is the lowest level in any month except for July. As recently as September, China's import of crude oil was at a record high for the year - 13.46 million tons.

China Customs also advised that between January and October, China imported more than 120.07 million tons of crude oil, an increase of 14.1 percent from last year, at a cost of over US$56 billion, US$17 billion more than last year.

National oil companies are waiting for oil prices to fall further so have not purchased much this month.

Source:佚名