China's imports of refined oil amounted to 3.3-mil mt in February, down 14.29% from the previous month, according to data released by the General Administration of Customs.
The nation is estimated to have imported 2.01-mil mt of fuel oil in the month, sharply down 420,000mt or 17.28% on month. In face of misty outlook of international crude prices, Chinese fuel oil importers reduced February imports after stocking up before the Spring Festival (Feb 3) , market sources pointed out.
China's imports of distillates might reach 1.29-mil mt in February, down 420,000mt or 24.56% on month, C1 estimated. The imports comprise a combined 500,000mt of gasoline and gasoil, 500,000mt of kerosene and 290,000mt of naphtha.
China exported 1.86-mil mt of refined oil in February, down 13.08% on month, the GAC data also showed.
