THE country’s crude oil imports in September rose 10.8 percent from a year earlier as refiners ramped up output amid stable profit margins and solid fuel demand.

China, the world’s top oil importer, brought in 41.24 million tons of crude, equivalent to 10.04 million barrels per day (bpd), according to data released by the General Administration of Customs yesterday.

That compared with 9.93 million bpd in August and 9.05 million bpd in September last year.

Over the first nine months in 2019, crude oil arrivals reached 369.04 million tons, or 9.87 million bpd, up 9.7 percent from the same period last year, the data showed.

“Crude imports in September were boosted by the startup of new refineries as well as an expansion project under China National Petroleum Corp. Refiners also replenished stocks ahead of the National Day holiday,” said Seng Yick Tee, senior director of consultancy SIA Energy.

China’s customs data showed the country also exported 5.68 million tons of refined oil products in September, up 39.6 percent from a year earlier, as refiners worked to fill their annual export quotas before the end of the year.(SD-Agencies)