China's crude imports fall 15% this year

China's crude oil imports have decreased by 15% since the beginning of the year, with a significant decline during the first eight months of 2026 due to export restrictions and a drop in domestic consumption. In August, imports stabilized at 8.93 million barrels per day, with a noticeable monthly recovery following the easing of producer restrictions since July, although Vitol's forecasts suggest a decline in oil demand by 1.5 million barrels per day.