By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Tuesday, Oct 13, 2026
9News Nigeria
  • HOME
  • EDITORIAL
  • POLITICS
  • NATIONAL
  • SPORTS
  • WORLD
  • BUSINESS
  • ABOUT US
  • CONTACT US
  • PRIVACY POLICY
9News Nigeria9News Nigeria
Font ResizerAa
Search
  • Editorial
    • OPINION
  • Politics
  • National
    • Breaking News
    • Boko Haram
    • Crime and Investigation
    • Ohanaeze Ndigbo
  • Business
    • Nigerian economy
    • Investment
    • Finance
  • Sports
  • Entertainment
    • Celebrity
    • Entertainment and lifestyle
    • Hollywood
  • World
    • Africa
    • Asia News
    • Australia
    • Europe
  • About 9News Nigeria
    • About 9News Nigeria
    • Privacy Policy
    • Terms And Conditions
    • Contact Us
Follow US
Asia NewsBreaking NewsBusinessChinaUSA

China overtakes U.S. again as world’s top crude importer

Timothy Stephen
Last updated: October 18, 2016 7:35 am
By Timothy Stephen
Share
2 Min Read
Crude oil 412
SHARE
Follow & Subscribe Us:
Subscribe YouTubeFollow FacebookFollow XFollow Instagram

CHINA imported record volumes of crude oil in September, eclipsing the United States as the world’s top buyer.

China’s September crude oil imports rose 18 percent from a year earlier to 33.06 million tonnes or 8.04 million barrels per day (bpd), customs data showed. The buying outpaced the U.S. four-week average assessed by the U.S. Energy Information Administration to be at 7.98 million bpd as at the end of September.

It also marked the second time this year but the third month in the past twelve months that China’s imports have overtaken the United States, and reflected contracts signed in July when renewed selling pressure pushed crude below $42 a barrel.

Oil has since recovered to over $50 a barrel. The shipments also arrived as Chinese refineries entered the final stretch of their annual maintenance season, which typically takes place in the third quarter.

With U.S. plants’ repair work extending into this month, the world’s largest economy could retake pole position in October, analysts said. China’s strategic reserve is preparing to start filling late this year newly-built storage tanks that can take some 19 million barrels of crude, or about three days worth of imports, traders said.

“The increase was mainly driven by stocking activities at some reserve sites,” said Harry Liu, associate director of oil markets with IHS Energy, (an information and data provider), who said August and September volumes were higher than he expected. That contrasts with earlier in the year when China’s independent refiners known as “teapots” were the driving force behind the imports. Analysts from BMI research, a Fitch Group, expected China’s crude imports to remain elevated for the rest of the year due to falling production, expanding storage capacity and a seasonal uptick in demand over the winter months.

U.S Federal Agents raid Ilhan Omar’s Home
US to Livestream former Army Major’s Execution
Trump Administration suspends major Tech Firms from Green Card Programme
BREAKING: FBI foils alleged ISIS-inspired mass shooting plot in the U.S

Over the first nine months, import volumes rose 14 percent to 284 million tonnes, or 7.55 million bpd, according to the data.

Source: Vanguard

Recommended YouTube Videos on 9News Nigeria TV

You said It's our turn (AWALOKAN), and we voted for you - Woman cries to President Tinubu in Yoruba
We Want Change: Tonto Dikeh, Umar Ganduje, Clamour Need For Youth Inclusiveness
THE ROTTEN FISH: CAN OF WORMS OPENED OF APC & TINUBU'S GOVERNMENT OVER NIGERIA'S ECONOMIC DOWNTURN
ECOWAS VS NIGER JUNTA, SUBSIDY REMOVAL HARDSHIP, WIKE TO FACE WRATH OF THE LAW IF...

Powered by www.zebrawebs.com

Like this:

Like Loading…
Share This Article
Facebook Whatsapp Whatsapp Copy Link
What do you think?
Love0
Sad0
Happy0
Surprise0
Angry0
ByTimothy Stephen
Follow:
9News Nigeria Global Breaking News Platform News from Nigeria News from Africa Nigerian News African News
Previous Article Oanao fillings stations aft e1476736436500 Oando Marketing changes name to OVH Energy Marketing
Next Article izu NFF mourns with family of slain Izu
Search
– Advertisement –
Latest News
  • DSS Arrests Igwuruta Man Over Alleged Pipeline Vandalism, Takes Him to Abuja October 13, 2026
  • Ex-Police Commission Boss, Okeke appeals for immediate intervention in Soludo-Obi Rift October 12, 2026
  • Arsene Wenger tipped to challenge Infantino for FIFA presidency October 12, 2026
  • Police charge 4 suspects with ‘forgery’ in Anambra monarchy tussle October 12, 2026
  • Umo Eno Has Not Suspended Daughter, Akwa Ibom Govt Insists October 12, 2026
  • Atiku condemns Kaduna kidnapping, urges security agencies to rescue family October 12, 2026
  • CHINA HAS A PRESIDENT, BUT HOLDS NO DIRECT PRESIDENTIAL ELECTION October 12, 2026
  • Chronicle of Kaduna Casualties, Disasters in Tinubu’s Administration October 12, 2026
  • Court sacks Vincent, declares Mandung winner of APC primary for Jos South Constituency October 12, 2026
  • U.S Federal Agents raid Ilhan Omar’s Home October 12, 2026
– Advertisement –
9News Nigeria
  • Editorial
  • OPINION
  • Inspiration
  • Investigative Reports
  • Featured
  • Interviews
  • About 9News Nigeria
  • Terms And Conditions
  • Privacy Policy
  • Contact Us
World News
  • Africa
  • African Politics
  • Aviation News
  • Australia
  • Global Economy
  • Europe
  • Global Economy
  • Asia News
  • Middle East
  • World
  • World Politics
  • USA
  • USA Politics
News Categories
  • Breaking News
  • National
  • Politics
  • Business
  • Sports
  • Health
  • Crime and Investigation
  • Nigeria Police
  • Nigerian Military
  • Biafra
  • ODUDUWA
  • Ohanaeze
  • Boko Haram
  • National Assembly
  • National History
  • Sober House
  • National Security
Entertainment and Lifestyle
  • Entertainment
  • Entertainment and lifestyle
  • Nollywood
  • Lifestyle
  • Hollywood
  • Celebrity
  • Celebrity Gist
  • Celebrity Gossip
  • Events
  • Family & Relationships
  • Relationship Extra
  • Relationships

You May also Like

FB IMG 1791389062531
GhanaChina

Ghana Commences Cedi-to-China-Yuan Payments System, Cutting Dollar Dependence

October 7, 2026
CNN gets new owner as Trump ally seals $81bn Warner buyout
USABreaking News

CNN gets new owner as Trump ally seals $81bn Warner buyout

October 6, 2026
U.S President Donald Trump
USAUSA Politics

I’m going to Give all Adult Citizens $5,000 — Trump

October 3, 2026
U.S President Donald Trump
WorldInternational Relations

Trump Calls Kim Jong Un His ‘Friend’, Explains why North Korea has Nuclear Weapons

September 30, 2026
President Tinubu
Breaking NewsHot News

President Tinubu Departs France for Nigeria, Presidency Confirms

September 29, 2026
1790663343336
Business

OPay Wins Most Trusted Fintech Brand at 2026 Consumers Value Awards

September 29, 2026
Show More
  • More News:
  • Europe News
  • National News
  • Politics
  • 9News Nigeria - Nigeria Breaking News
  • Nigeria Politics
  • Imo state
  • Sports
  • Opinion
  • National Security
  • Events
  • Editorial
  • Inspiration
  • Trending news
  • Bible Messages
  • Religion
  • Jesus Christ the saviour
  • World News
  • Crime and Investigation
  • The Love of God
  • Business

9NEWS NIGERIA

  • Editorial
  • Opinion
  • Inspiration
  • Investigative Reports
  • Featured
  • Interviews
  • About Us
  • Terms And Conditions
  • Privacy Policy
  • Contact Us

NEWS CATEGORIES

  • Breaking News
  • National
  • Politics
  • Business
  • Sports
  • Health
  • Crime and Investigation
  • Nigeria Police
  • Nigerian Military
  • Biafra
  • ODUDUWA
  • Ohanaeze
  • Boko Haram
  • National Assembly
  • National History
  • National Security

WORLD NEWS

  • Africa
  • African Politics
  • Aviation News
  • Australia
  • Global Economy
  • Europe
  • Asia News
  • Middle East
  • World
  • World Politics
  • USA
  • USA Politics

ENTERTAINMENT AND LIFESTYLE

  • Entertainment
  • Entertainment and lifestyle
  • Nollywood
  • Lifestyle
  • Hollywood
  • Celebrity
  • Celebrity Gist
  • Celebrity Gossip
  • Events
  • Family & Relationships
  • Relationship Extra
  • Relationships
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

%d