China March crude imports rise 9% to near record

China’s imports of crude oil jumped 8.9 per cent in March from a year earlier to a near record, official data showed, as refiners took advantage of low prices to build up their stockpiles ahead of a spring demand surge.

Net oil product imports fell by 26 per cent from a year ago, suggesting that China’s oil demand in March may not have fully rebounded from a weak 3.5 per cent apparent expansion in February.