BEIJING: China’s oil imports fell more than 40% year on year to 7.06 million barrels per day in June, helping limit global price pressure from Middle East supply disruptions.
The figure came from China’s General Administration of Customs. Imports had reached 13.06 million barrels per day in December 2025 before falling sharply after the Middle East conflict began on February 28.
China, the world’s largest crude buyer, reduced purchases as oil prices rose and traffic through the Strait of Hormuz collapsed. Analysts told Axios that the scale and duration of the decline exceeded expectations.
Michal Meidan, head of China energy research at the Oxford Institute for Energy Studies, said the country maintained lower demand without disrupting the wider operation of its economy.
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Goldman Sachs analysts said Beijing drew on domestic coal, oil and natural gas reserves. China also increased its reliance on coal, renewable energy and electric vehicles to reduce demand for imported fuels.
Official data showed that China produced 18.12 million tonnes of crude in June, down 0.5% from a year earlier. However, crude processing fell 17.7% to 51.24 million tonnes, according to the National Bureau of Statistics.
Reid I’Anson, an economist at commodities consultancy Kpler, said China helped the global economy manage the energy disruption.
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Jane Nakano of the Centre for Strategic and International Studies described the country as a major driver of short-term global oil demand. Other measures also restrained prices.
The International Energy Agency approved a record 400-million-barrel emergency stock release on March 11.
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Meanwhile, US petroleum exports reached a record 13.6 million barrels per day in April, up 15% from March’s previous record, according to the US Energy Information Administration. Preliminary indicators suggested a modest recovery in China’s oil imports in July.
