China Crude Oil Imports Shatter Record, Top U.S. Intake

China's crude oil imports surged to an all-time high in March to nearly 9.2 million barrels per day (bpd), customs data showed on Thursday, far surpassing expectations and overtaking the United States as independent refiners ramped up their purchases. The March imports came in at 38.95 million tonnes, or 9.17 million bpd, according to the General Customs Administration. 

That compared with 8.286 million bpd in February and far exceeded an earlier record of 8.57 million bpd in December. Both the March and the first-quarter import levels were above those of the United States according to data from the U.S. Energy Information Administration (EIA), making China the world's top crude oil buyer so far this year.

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