UPDATE 2-China Oct crude imports near record as refiners up runs
* Oct crude imports at 4.55 mln bpd, up 19.7 pct on yr
* Refinery crude run up 10 pct yoy, only a tad below record
* Jan-Oct refined fuel exports up 38 pct; imports -6.6 pct
* here
* here
By Eadie Chen and Tom Miles
BEIJING, Nov 11 (Reuters) - China's crude imports and refinery throughput came in just below historical peaks in October, showing that oil demand continues a gradual revival from a sharp slowdown in late 2008 and early this year.
With the the world's third-largest economy showing more signs of a solid recovery, commentators are expecting strong oil demand growth to continue.
"China's expanding fuel consuming bases, especially soaring car sales, support strong crude oil processing and imports," said Yan Beina, an analyst with Guosen Securities.
"Demand for diesel could accelerate if the economic recovery continues," he added.
China's October crude oil imports rose 19.7 percent from a year earlier to 19.34 million tonnes, or 4.55 million barrels per day (bpd), preliminary Customs data showed on Wednesday, only slightly below July's all-time high of 4.62 million bpd.
Refinery crude throughput rose 10.4 percent from a year earlier to 33.29 million tonnes (7.84 million bpd), data from the National Statistics Bureau showed on Wednesday. [ID:nPEK239518]
The overall volume was a fresh high, but on a daily basis, the 7.84 million bpd was lower than 7.99 million bpd in September.
BULLISH DEMAND FORECAST
A senior official from a state oil firm gave a bullish forecast about China's 2010 fuel demand growth on Tuesday as many are heartened by a smooth emergence of the Chinese economy from the financial crisis.
Wang Tianpu, president of Sinopec (SNP.N), told Reuters that China's refined fuel demand growth was expected to hit 8 percent in 2010, up from an estimated 3 percent in 2009. [ID:nPEK299749] Continued...



