Crude imports hit a high in Dec

China's crude imports surged to a record in December after a buying spree in Singapore by a State-owned trader and as the government in Beijing accelerated stockpiling amid the collapse in global oil prices.

Overseas purchases increased to 30.4 million metric tons last month, according to preliminary data released by the General Administration of Customs on Tuesday. That is about 7.19 million barrels a day, up from the previous high of 6.81 million in April. For 2014, crude imports rose to 310 million tons, also an all-time high.

Chinese demand is shoring up the global oil market as the country expands emergency stockpiles amid crude's slump to the lowest level in more than five years. The Asian nation's consumption is forecast to climb by 5 percent in 2015, while the government is set to hoard about 7 million tons of crude in strategic reserves by the middle of this year, predicts ICIS-C1 Energy, a Shanghai-based commodities researcher.