China's crude oil imports fell 41.3% year-over-year in June 2026 to 29.27 million tons (7.12 million barrels per day), the lowest monthly volume recorded since October 2016. The decline was driven by reduced flows through the Strait of Hormuz, which elevated global crude prices and suppressed purchasing appetite among Chinese refiners. The data was reported by Oilprice and Bloomberg Markets on 14 July 2026.
Chinese refiners responded to elevated Gulf crude prices partly by drawing down inventories rather than purchasing on the open market. Oilprice reported on 15 July that refiners drew approximately 41 million barrels from domestic stockpiles in June, described as one of the largest monthly stock draws on record.
Brent crude and WTI — the international and US benchmark contracts respectively — are directly connected to this story as the price benchmarks elevated by the Strait of Hormuz supply constraint. CNOOC and PetroChina, as China's primary state-owned crude importers and refining entities, are the operators whose procurement volumes are reflected in the June data.
No official regulatory statement or government commentary on the import figures was included in the cluster reporting. The Strait of Hormuz disruptions were characterised as linked to escalating tensions affecting Middle Eastern energy transit routes, without further official attribution.
Sources: Oilprice, OilPrice, Bloomberg Markets