China's crude imports in rose 7.8% last month from the year-ago level to the third highest on record on a daily basis, data showed, as refiners ramped up imports despite a demand lull during the holiday month.
China, the world's second-largest crude importer after the US, brought in 5.2 million barrels per day, versus January's 5.13 million bpd, the General Administration of Customs said on its website.
The higher imports were made when China's top oil plants raised their operations from January, anticipating a fuel price hike to compensate for rising crude costs, Reuters reported.
China is expected to release oil output data for both January and February tomorrow, a combined release due to last month's Lunar New Year break.
To trim demand and help lift refining margins to ensure supply, China raised its retail ceiling prices for gasoline and diesel by 4% - 4.5% on 20 February to fresh highs.
Part of the crude imports may have been channeled into the country's expanding emergency stockpiles.
A senior government official told local media earlier this week that China had enough oil in its strategic reserves to cover one month's consumption and that crude made up three quarters of the stockpile.
Based on China's oil demand of 8.7 million bpd last year, this would translate into roughly 120,000 bpd crude oil stockpiling over the last two years, largely in line with analysts' estimates.
