China’s crude oil imports climbed in October, reflecting higher refinery activity and stronger demand for fuel exports. The world’s largest oil importer brought in 48.36 million metric tons of crude last month, up 8.2 percent from a year earlier and 2.3 percent from September, according to data released Friday by the General Administration of Customs. The volume is equivalent to about 11.4 million barrels per day.
Industry analysts said Chinese refiners operated at their highest utilization rates of the year as improving profit margins encouraged state-run companies to raise output. Data from Vortexa Analytics showed China’s seaborne crude imports reached 10.4 million barrels per day in October, up 6 percent month-on-month and 9 percent from the same period last year.
“In particular, state-run refiners have increased runs in the second half of the year to capture domestic market share from private refiners and maximize export quota utilization amid improving margins,” said Emma Li, an analyst with Vortexa. She added that the surge in activity has led to a visible drawdown in onshore crude inventories.
According to data from Kpler, China’s crude oil imports from West Africa and Brazil recorded notable growth due to favorable pricing differentials. Russian oil shipments also rose, with arrivals of Urals crude increasing by around 283,000 barrels per day, their highest level since mid-2023.
Meanwhile, imports from Saudi Arabia and Iraq declined, partly due to maintenance at Sinopec-operated refineries that reduced deliveries under long-term supply contracts for September-loading cargoes, said Kpler senior analyst Muyu Xu.
For the first ten months of 2025, China’s total crude oil imports reached 471 million metric tons, up 3.1 percent year-on-year. Analysts said the data points to a steady recovery in fuel demand despite broader economic uncertainty.
However, natural gas imports weakened. Combined pipeline and liquefied natural gas (LNG) shipments fell 7.2 percent in October from a year earlier to 9.78 million metric tons. Cumulative gas imports for the January–October period totaled 102.6 million metric tons, down 6.2 percent from a year earlier.
Market observers said the rise in crude imports reflects China’s strategy to rebuild refining margins and maintain strong export flows of refined products. “Refiners are capitalizing on better margins and stable global demand for fuel, even as domestic consumption remains moderate,” said one Singapore-based trader.
Analysts expect the pace of imports to stay firm through the winter months, supported by heating demand and sustained overseas fuel sales. Still, the combination of fluctuating global oil prices, refinery maintenance cycles, and policy-driven export quotas will continue to influence China’s purchasing patterns into early 2026.
