China’s Crude Oil Imports Reach Record Levels in 2025

China Sets New Record for Crude Oil Imports

China reached an all-time high in crude oil imports last year, averaging 11.55 million barrels per day, which totaled 557.73 million tons—a 4.4% increase compared to 2024, according to official data.

December alone saw unprecedented import levels, with daily volumes hitting 13.18 million barrels and a monthly total of 55.97 million tons.

These figures challenge the narrative that China’s oil consumption is in permanent decline due to the rise of electric vehicles. However, it’s worth noting that a portion of these imports has been directed into storage facilities.

China’s robust buying activity has played a role in maintaining oil prices, even as OPEC+ increased output and global demand growth faced uncertainty amid fluctuating U.S. trade policies and tariffs.

Significant Stockpiling Activity

Frederic Lasserre, who leads research and analysis at Gunvor, a major commodity trading firm, stated in September that since March 2025, China has been accumulating oil at a remarkable pace—close to one million barrels per day.

Lasserre also predicts that China will keep expanding its strategic and commercial oil reserves well into 2026. With storage facilities currently about 60% full, there remains considerable capacity for further inventory growth.

Expansion of Oil Storage Infrastructure

China is actively increasing its oil storage capabilities. Over 2025 and 2026, the country plans to construct 11 new storage sites, which together will add approximately 169 million barrels of capacity, as reported last October.

This new capacity is equivalent to about two weeks of China’s crude imports. For comparison, between 2020 and 2024, new storage facilities added between 180 and 190 million barrels, according to Vortexa and Kpler data.

By Irina Slav for Oilprice.com

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