China retreat from first place to importers of raw

STOP LOOKING AS WE ARE AT THE FRONT LINE

China's imports of oil from 11% in May fell compared to the year earlier, the biggest drop since November 2013 and recorded and lost its status as the largest importer of crude country in the world after that topped the list for the first time in the month of April.

And the payment of the decline and China's imports At a time when the markets are expected to see a glut after OPEC decision to keep output ceiling without Tgier- world prices for crude to fall on Monday.

General Administration of Customs data showed that China imported 23.24 million tons of crude in May.

Thus, China comes in second place after the United States, which imported just under 30 million tons, according to accounts from the reality of the US Energy Information Administration data.

And on a daily basis, China's imports amounted to 5.47 million barrels in May, down almost 26% from the record set in April and reach 7.37 million barrels per day.

In May, China imported 2.32 million tons of refined products while exported 2.44 million tons, exports exceeded imports by 12 thousand tons.

In April, China's exports of oil products imports exceeded after that the opposite is true in the first three months of the year.

citation : taken from CNBC Arabia :http://goo.gl/wW7DCJ