China September Crude Imports Stabilize at 7.2 Million Barrels Daily
Chinese crude oil imports are projected to hold steady at 7.2 million barrels per day in September, marking a pause in the recovery from June lows.
China is on track to import 7.2 million barrels per day of crude oil in September. This volume matches the August level, indicating stability in purchasing rates. The trend extends a recovery pattern that began after a decade-low import figure in June.
Crude oil prices have surged above $100 per barrel. However, the cargoes arriving in September were purchased at prices well below this threshold. Chinese refiners moved to restock supplies while market prices remained in the $80 range per barrel.
Import Volumes Recover From June Lows
Official customs data shows China imported 37.93 million tons of crude in August. This equates to 8.93 million barrels per day, a 6.2% increase from July. The August volume was still 23.4% lower than the same month last year.
June saw the lowest import levels in a decade, reaching 7.1 million barrels per day. Beijing reduced buying by an estimated 4.4 million barrels per day compared to the 2025 average. High prices and constrained Middle Eastern supply drove this initial drop.
The rebound started in July and continued through August. Flows from the Middle East increased during this period. Refiners also boosted purchases of Russian ESPO grade crude.
Strategic Stockpiles Enabled Reduced Buying
China held approximately 1.4 billion barrels of crude reserves before recent conflicts. This stockpile allowed Beijing to cut import volumes significantly in June. The country could afford to reduce purchases without immediate supply risks.
Refiners have diversified their supply sources in recent weeks. They turned to previously rare destinations such as Argentina. This shift in sourcing strategy helps mitigate regional supply constraints.
Market Pressure Remains On Crude Prices
The gradual recovery of Chinese purchases signals upward pressure on oil prices. Data from Kpler and reports by Nikkei Asia confirm the September projection. Chinese refiners are actively boosting overseas fuel shipments as export restrictions ease.
OilPrice.com notes that the second consecutive monthly rise in imports reflects changing market dynamics. The market is adjusting to higher demand from one of the largest buyers. Future price movements will depend on continued restocking efforts by Chinese entities.
