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China's September Crude Oil Imports Rise 3.9% Year-on-Year Despite Monthly Decline

Oct 13, 2025, 4:36 a.m. ET

China’s crude oil imports climbed 3.9% in September from a year earlier, averaging about 11.5 million barrels per day, according to Reuters calculations based on official customs data from Beijing.

The increase came as refinery operations picked up across the country. State-owned refiners boosted their processing rates to 81.05% — the highest level since the start of the year — while independent refiners, known as “teapots,” also raised utilization to around 62%.

However, crude imports slipped 4.5% from August levels, Reuters reported, citing data from energy analytics firm Kpler. The monthly decline was largely driven by reduced shipments from Iran, not by weakening demand, but rather due to the exhaustion of import quotas.

Analysts noted that China’s overall crude demand remains resilient despite slowing economic growth and ongoing property sector challenges, as refiners continue to replenish inventories and meet steady fuel consumption ahead of the winter season.

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