China's crude oil imports set to reach 7.8 million barrels a day in July, rebounding from a decade low

Preliminary data from Kpler published on Monday, July 27, 2026 indicates that China's seaborne crude oil imports will average about 7.8 million barrels a day in July. That is a marked increase from the 6.2 million barrels a day Chinese refiners imported in June.

China's oil imports in June had fallen to their lowest level since November 2015. According to the report, the July recovery stems mainly from faster movement of oil cargoes through the Strait of Hormuz along with increased purchases of Russian crude by Chinese refiners.

The trend matters for the Iranian market because the pace of tanker traffic through the Strait of Hormuz and the scale of Chinese demand are among the factors shaping global oil prices and the region's export revenue. It is not yet clear whether the upward trend will continue in the months ahead or prove a temporary fluctuation.