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China Imported Most Expensive Oil from Azerbaijan in Q1

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In the first quarter, China bought oil most expensively from Azerbaijan – at $ 436.7 per ton

China in January-March 2017 increased oil imports by 15% – to 104.77 million tons. In value terms, the growth was 78.7% – up to $ 40.82 billion, TASS reported citing data of the country’s customs statistics.

In the first quarter of 2017, China imported 8.49 million barrels per day, while the United States for the same period imported 8.17 million barrels per day.

In the first quarter, China bought oil most expensively from Azerbaijan – at $ 436.7 per ton, and it purchased the cheapest oil from Venezuela – $ 289.8 per ton.

The largest supplier in January-March was Saudi Arabia – 14.36 million tons, exports increased by 4.9%. In value terms, growth was 64.1% – to $ 5.72 billion. The average cost of Saudi oil was $ 398 per ton.

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