July crude imports 9.97 mln bpd, 12 vs June, 3 on yr
JanJuly crude imports 10.89 mln bpd, 2.4 on yr
Independent refiners operated at 56 of capacity in July, consultancy says
JanJuly gas imports 12.9 on yr; fuel exports 4 on yr

SINGAPORE, Aug 7 Reuters China39;s daily crude oil imports in July fell to their lowest since September 2022, Reuters records of customs data show, as weak processing margins and low fuel demand curbed operations at staterun and independent refineries.

The world39;s largest crude oil buyer brought in 42.34 million metric tons in July, or about 9.97 million barrels per daybpd, data from the General Administration of Customs showed.

Imports fell nearly 12 from the previous month and were 3 below the yearago amount, according to Reuters39; records of customs figures.

Higher crude oil prices and weakerthanexpected domestic consumption of gasoline and diesel are squeezing refining profits.

Chinese consultancy Oilchem estimated independent refiners operated at 56.11 of capacity in July, which is the lowest in three years and down 7.3 percentage points versus a year earlier.

There was little improvement in gasoline or diesel demand and the refining margins were lower than a year earlier, Oilchem said in a research note on July 26.

Some refiners were incurring heavy losses. Two plants owned by state group Sinochem were shut indefinitely for maintenance to stem losses, Reuters has reported.

Faltering demand, particularly for diesel fuel, also…