China’s crude oil purchases rebound in July from near-decade low
Oil flows from the Persian Gulf rise after an interim peace deal between the US and Iran in June
Published Fri, Aug 7, 2026 · 01:37 PM
CHINA’S crude oil imports rebounded in July from a near-decade low, after flows through the Strait of Hormuz picked up and refiners boosted purchases from nations outside the Middle East including Russia.
Pipeline and seaborne flows rose to 35.73 million tonnes in July, according to customs data released on Friday (Aug 7).
That is up 22 per cent from June, when shipments hit the lowest since October 2016. The volume for last month is equivalent to 8.45 million barrels a day, well below the pace in the same period last year.
Oil flows from the Persian Gulf had ramped up following an interim peace deal between the US and Iran in June, but a recent escalation of hostilities has snarled Hormuz traffic once again.
There has also been a spillover to the Red Sea, crimping exports from Saudi Arabia, one of the Asian nation’s top suppliers. Beijing has been snapping up cargoes from Russia to fill the gaps.
Meanwhile, coal imports totalled 42.73 million tonnes in July, up 20 per cent on an annual basis, after a deadly accident in Shanxi province in late May crimped domestic production.
Natural gas imports fell 0.9 per cent on the year, as liquefied supplies from the Middle East continued to be impacted by the war. BLOOMBERG
