China’s crude imports slump in 2025 - JLC

China imported about 10.38 million b/d of crude oil in the first two months of this year, down from 11.27 million b/d in December 2024, market intelligence provider JLC reported, citing data from the General Administration of Customs (GACC).

CONCEPT: Crude oil pump jacks with a downward arrow depicting the drop in imports, the Chinese flag in the background. Getty Images

The daily crude oil imports in January and February saw a 3.43% slump year-on-year, JLC reported. “The decrease could be in part ascribed to less demand from conventional independent refiners,” it said.

The country imported a total of about 83.85 million mt of crude in the first two months of this year, about 4.45 million mt less than the corresponding months in 2024, according to JLC.

In the first two months of the year, global markets saw the rise of a Sino-US trade war as US President Donald Trump imposed a 10% tariff on Chinese goods.

Overall, the country’s crude oil imports were also affected by a drop in cargo arrivals, which were impacted by US sanctions on some vessels, JLC said.

The slowdown in crude imports directly reflects an apparent slump in oil demand growth in the world’s second-largest crude oil-consuming nation and has put downward pressure on Brent crude’s price.

By Aparupa Mazumder

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