ECONOMY_ China’s Crude Oil Imports Sink to 8-Year Low as Hormuz Shutdown Chokes Gulf Shipping (Sean Tseng - THE EPOCH TIMES)

THE EPOCH TIMES

China’s Crude Oil Imports Sink to 8-Year Low as Hormuz Shutdown Chokes Gulf Shipping

Beijing is leaning on stockpiles built up over years to ride out the Strait of Hormuz shutdown. Analysts say these reserves have limits.

Oil tanks store imported crude at Qingdao Port Crude Oil Terminal in Qingdao, China, on April 12, 2026. Getty Images

Sean Tseng
6/9/2026|Updated: 6/9/2026

China’s crude oil imports fell to an eight-year low in May, as refineries in the world’s largest oil-buying nation pulled back sharply during the war that began when the United States and Israel launched air strikes against Iran on Feb. 28.

The country brought in 33.08 million metric tons of crude last month—about 7.79 million barrels a day, and 29 percent less than a year earlier—according to figures from China’s General Administration of Customs. That was down from roughly 9.3 million barrels a day in April and about 11 million before the war, and the lowest monthly level since 2018. 

The drop came amid the closure of the Strait of Hormuz, now more than three months old, as Beijing drew on oil it had stockpiled over years to cushion the blow.

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READ MORE: https://www.theepochtimes.com/china/chinas-crude-oil-imports-sink-to-8-year-low-as-hormuz-shutdown-chokes-gulf-shipping-6045619?ea_src=frontpage&ea_med=section-1

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