China Boosted Oil Imports Nearly 16% in Early 2026

Crude oil imports into China climbed 15.8% over the first two months of the year, with the information likely to continue to a reversal of the recent decline in oil prices, signalling strong demand from the world’s largest importer. Per official data from Beijing, China imported crude oil at a daily rate of 11.99 million barrels, Reuters reported today, or a total of 96.93 million tons. This is higher than the 2025 average, which was a record-high 11.55 million barrels daily. Seaborne imports specifically rose by 2.1 million barrels daily…