China's crude oil imports in July 2025 rose 11.5% year-on-year to 47.204 million tons, equivalent to approximately 11.16 million barrels per day (mbpd), according to customs data. This marks an increase from 10.01 mbpd in July 2024 and continues a general upward trend compared to previous years. Meanwhile, imports of oil products in July reached 4.031 million tons. Despite this growth, Saudi Arabia's crude oil supply to China is expected to decline in September 2025, with allocations dropping to about 43 million barrels from 51 million barrels in August. The reduction is attributed to Saudi Aramco raising its official selling prices (OSPs) for Asian buyers for the second consecutive month amid robust demand. Several Indian refiners received full crude volumes for September but did not seek additional supply, influencing Saudi Arabia's allocation decisions.
Saudi Crude Shipments to China Poised to Fall in September
Saudi Aramco allocated 43 million barrels to China in September, down from 51 mill last month. This is what happens when you rise the OSPs above the implied spot.
Saudi crude oil supply to China set to fall in September, sources say https://t.co/QNtr03vdVM https://t.co/QNtr03vdVM