China’s Crude Imports Seen Dropping Ahead of Factory Shutdown

[Dow Jones] China’s crude imports in August could fall to 7-7.2 million barrels a day. This as refiners undergo seasonal maintenance and expectations that factories will be shut (to control pollution) ahead of the G-20 meeting in Hangzhou province on September 4-5, says Energy Aspects.

 

“The congestion in the main Shandong ports is starting to clear, with waiting times to offload at Qingdao is now reportedly around 7-15 days, down from the peak 30-40 days in March, although there is still a lag in processing some of the July volumes that will be counted in the August imports,” the consultancy says. In July, China crude imports hit a six-month low to 7.35 million barrels a day, mainly due to refinery maintenance as ell as heavy flooding which curbed some refining activities.