China cut oil imports hard — and why it is not and may never rush back. China cut crude imports from 11.7 million b/d in February to just under 9 million by late May, and by May imports hit 7.8 million b/d — the lowest since 2018 — with state refinery run rates at 66.3%, ...

Read more

---

Link :
https://www.nextbigfuture.com/2026/07/china-is-permanently-reducing-reliance-on-imported-oil.html