China's crude oil imports drop 41% YoY in June to lowest in 10 years

China's crude oil imports fell sharply in June, dropping 41% year-on-year to 29 million tons (approximately 7 million barrels per day), the lowest level in 10 years. Month-over-month, imports declined by 4 million tons (-12%), reaching the weakest level in eight years.

Import volumes have now fallen by 26 million tons (-47%) since the late-2025 peak. For context, the average monthly import volume between 2020 and 2025 was about 45 million tons.

Seaborne crude imports stood at roughly 6 million barrels per day in June, with flows from the Middle East hitting a ten-year low. Iranian oil imports also dropped sharply, falling 40% month-on-month to below 800,000 barrels per day, partly attributed to the supply shock from the Iran War.