China’s Oil Imports May Be Set to Recover as Stockpiling Returns
Bloomberg 2026-07-13 05:11:35
Context: China's crude oil imports are expected to rebound after a prolonged decline, driven by the country's decision to relax fuel export restrictions, increase refinery run rates, and secure immediate supplies from the Middle East. This resurgence is anticipated to be further bolstered by a return to strategic stockpiling later this year. The forecast is based on insights from analysts and traders.
Key Facts
- China's crude imports have been in a months-long slump prior to the anticipated recovery, with the downturn now expected to reverse as the country takes steps to boost imports.
- The relaxation of fuel export curbs, increase in refinery run rates, and purchase of prompt Middle East supplies are cited as key factors that will contribute to the recovery in China's crude oil imports.
- Analysts and traders are forecasting a return to strategic stockpiling later this year, which is likely to further support the expected rebound in China's oil imports.