China’s Crude Oil Imports Hit a Seven-Month High as Buyers Return

Highlights:

• Imports rose 9.4% month on month, but remained below last year’s level.
• Saudi shipments climbed, offering a clue to China’s shifting supply mix.
• The rebound may ease China’s reliance on stored crude, though its pace remains uncertain.

October imports rebound, but remain below year-earlier levels

China’s crude imports totalled 41.94 million tonnes in October, averaging approximately 9.88 million barrels per day. The daily rate was up 9.4% from September and reached its highest level since March, according to customs data. The month-on-month rise marks a recovery after China cut purchases during the Middle East conflict and drew on its substantial oil inventories.

The stronger monthly figure does not yet signal a return to previous buying levels. October imports were 13.3% lower than a year earlier, while total crude purchases for the first ten months of 2026 were down 15.1% compared with the same period in 2025. China had reduced imports sharply as prices surged, with the June volume reaching a decade low.

Middle Eastern supply returns to focus

Saudi Arabia supplied about 1.62 million barrels per day to China in October, broadly matching its monthly level a year earlier. That was a marked increase from earlier months, when conflict-related disruption prompted Chinese buyers to reduce purchases from the region. Seaborne crude arrivals also increased during October.

The rebound matters because China is the world’s largest crude importer, and changes in its buying can influence expectations for global demand. After relying on inventories accumulated during earlier periods of heavy purchasing, China is again bringing in more crude. That could gradually reduce the restraint that its lower imports placed on the market, although the October data alone cannot establish a sustained trend.

The next signal is the buying pace

For oil markets, the key question is whether imports continue rising or level off. China’s accumulated stocks provide a buffer, while prices and supply conditions may influence refinery purchasing decisions. Current reports indicate that oil prices have been driven more by geopolitical developments than by China’s recent import recovery.

Further monthly customs data should clarify whether October represents a durable pickup or a temporary replenishment. Until then, the seven-month high points to firmer buying, while the year-on-year and year-to-date declines show that China’s crude demand recovery remains incomplete.

Note- All data presented is based on information available at the time of writing.

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