Eco
China's overseas oil purchases plummeted to their lowest level in over eight years last month, following supply restrictions caused by ongoing conflict disturbances. Beijing, concurrently, refrained from rushing to secure alternative shipments. Customs data revealed a decline in crude imports to approximately 33 million tons in May, equivalent to 7.8 million barrels per day, marking the lowest level since October 2017. China had, on average, imported around 11.6 million barrels per day during 2025. To address the repercussions of losing most supplies from the Arabian Gulf region, China, the world's largest crude oil importer, relied on imposing export restrictions, reducing refinery operating rates, and drawing from its vast stockpiles. These measures helped alleviate pressure on global prices, while analysts estimate that China's oil imports are likely to remain at low levels in the coming months.
