China’s buying of oil from overseas slumped to the lowest in more than eight years last month as the Iran war crimped supply and Beijing held off scrambling for replacement barrels.
China’s buying of oil from overseas slumped to the lowest in more than eight years last month as the Iran war crimped supply and Beijing held off scrambling for replacement barrels.
China’s crude imports plunged in May to the lowest level in a decade and could languish for the coming months, as weaker demand, refinery cuts and limited exports help the world’s top buyer weather the impact of the Iran War.
China’s crude imports plunged in May to the lowest level in a decade and could languish for the coming months, as weaker demand, refinery cuts and limited exports help the world’s top buyer weather the impact of the Iran War.
An oil tanker is docked unloading crude oil at the port in Qingdao, in China's eastern Shandong province, on April 7, 2026. (Photo by CN-STR / AFP via Getty Images) / China OUT
Chinese imports of crude oil are set to drop to levels not seen since the pandemic, as the war in Iran reveals the extent to which demand has disappeared and may not be coming back.
Chinese imports of crude oil are set to drop to levels not seen since the pandemic, as the war in Iran reveals the extent to which demand has disappeared and may not be coming back.
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