Crude thirst continues

• Source: Global Times
• [01:47 June 13 2011]
• Comments

China's crude oil imports in May topped 5 million barrels per day for a fifth consecutive month, as limited domestic output growth prompts the nation to persistently tap imported fuels to power economic growth.

Customs data showed China, which depends on imports for more than 55 percent of its oil demand, brought in 21.55 million tons of crude oil last month, almost flat with 21.54 million tons in April.

The volume was 20.7 percent higher from a year earlier, in part due to a low base. On a daily basis, the imports in May were equivalent to 5.07 million barrels per day.

Reuters