China's crude oil imports have reached 302.31 million metric tons (tonnes) in the first eleven months of 2015, with the total import value amounting to 766.3 billion yuan, according to the General Administration of Customs on Tuesday.
In November, China imported 27.34 million tonnes of crude oil, with the value totaling 61.37 billion yuan. Analysts predict that China's crude oil imports are likely to hit a record high in the whole 2015, as the accumulative import volume in the first eleven months have already approached the total import volume last year. In 2014, China imported 308.38 million tonnes of crude oil in total, up 9.5 percent year on year.
Zhi Luxun, an official of the Ministry of Commerce, noted that as the supply of oil had exceeded the demand, global oil prices had been running at a low level, which created a favorable environment for China to conduct global crude oil trade.
Analysts widely believe that the global oil market is a buyer's market. Under the circumstance, buyer's voice and market status are improving constantly.
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