China Customs: China’s crude oil imports surge 19.5% y/y in March

Chinese customs agency published its latest oil import data, noting that China's crude oil imports rose 19.5% yy in March to 38.95m tonnes.

Key Details:

Russia remains largest supplier by volume +0.9% yy at 4.69m tons

Imports from Saudi Arabia +14.48% yy at 4.55m tons

Largest yy rise though is from Thailand (+228%) and Ecuador (+217%)

Apparent oil demand rises 4.4% yy to 10.77m bpd