China’s October Oil Imports Reach 9.88 Million Barrels a Day

Despite the monthly rebound, October imports were 13.3% lower than in October 2025, according to official customs data. For the first ten months of 2026, China’s crude imports were down 15.1% from the same period a year earlier.

Imports from Saudi Arabia climbed to 1.62 million barrels a day in October, matching the country’s monthly average last year. That was a sharp rise from earlier months in 2026, when the war in the Middle East prompted Chinese buyers to reduce purchases from the region and cut imports overall.

After the U.S. and Israeli war with Iran began at the end of February and oil prices rose above $100 a barrel, China relied on its crude inventories. The world’s largest crude importer, it holds a reported 1.3 billion barrels and drew on those stocks through much of the period after March as it reduced purchases. Imports fell to a decade low in June.

Purchases have recovered since summer. Some analysts warned that weaker Chinese demand may have helped restrain oil prices, raising the possibility that a rebound in buying could remove that support. So far, prices have been driven mainly by geopolitical reports and developments in the Middle East, the source article said.