China's crude oil arrivals in October reached 41.94 million metric tons, or 9.88 million barrels per day (bpd), official customs figures show. Although the October total was 13.3% below the level seen a year earlier, the daily import rate rose 9.4% from September and represented the highest monthly intake since March.
Authorities and market observers noted the timing of the increase came after supply disruptions from the Middle East tied to the US-Israeli war on Iran, which affected regional crude flows. The October surge in daily imports contrasts with the year-on-year decline recorded for the month.
Refined oil products saw contrasting movements in October. Exports of refined fuels - covering gasoline, diesel, jet fuel and fuel oil - fell to 5.18 million tons from 7.16 million tons in September, but remained 14.6% higher than a year earlier.
Over the first ten months of the year, shipments of refined oil products totaled 46.59 million tons, a decline of 2.0% compared with the same period last year. At the same time, imports of oil products into China rose to 3.15 million tons in October, up from 1.85 million tons in September. For January through October, product imports were 27.15 million tons, down from 34.19 million tons in the prior-year period.
Natural gas inflows also moved higher in October. Total natural gas imports - inclusive of liquefied natural gas and pipeline gas - were 10.01 million tons in October, an increase of 2.4% versus October last year. However, cumulative January-to-October natural gas imports stood at 99.22 million metric tons, a decline of 2.8% from the same period a year earlier.
The monthly data highlight a mix of stronger crude arrivals on a monthly basis alongside softer year-to-date volumes for both refined products and gas. The interplay between elevated October crude throughput and the shift in refined product trade - lower exports month-on-month but higher than a year earlier, and elevated product imports compared with September - underscores the uneven patterns visible in China's energy trade flows.
Data notes: All figures cited are from the General Administration of Customs and refer to reported monthly and year-to-date volumes for the periods stated.