GERMANY DATA: May's crude imports fall 5% on month to 3-month low

Quantum Commodity Intelligence – Germany's May crude oil imports fell 4.8% on the month to 1.46 million barrels per day (bpd), the lowest figure since February this year, according to government statistics released Friday.

The monthly figure was, however, closer to the May 2019 pre-pandemic equivalent at 7.7% down, whereas April was down 8.7% from 2019 at 1.53 million bpd.

Year-to-date imports were down from both 2020 and 2019, with much of the impact of Covid-19 yet to affect the German economy in the first quarter of last year.

The January-May average was 1.5 million bpd this year, down just over 12% against the same period in each of the last two years.