China's Iranian Oil Imports Fall to About 556,000 bpd in July, Lowest Since Early 2023

China's imports of Iranian crude oil have averaged about 556,000 barrels per day so far in July 2026, the lowest level since early 2023, according to data from analytics firm Kpler. The figure is a further drop from an average of roughly 654,000 bpd in June.

China is the largest buyer of Iranian oil, so weaker Chinese purchases feed directly into Iran's export revenues. Beyond the Strait of Hormuz crisis and the halt of much tanker traffic, Kpler says subdued Chinese crude demand and narrowing sale discounts have also limited refiners' appetite to buy. Even so, Kpler expects China to remain Iran's principal oil customer.

The figures reflect the month-to-date average as of the report and may change by month end.