China's Crude Oil Imports Plummet by 32% Amid Strait of Hormuz Disruptions

China's crude oil imports fell significantly in the second quarter of this year, according to data from the US Energy Information Administration (EIA). The country imported just 8.1 million barrels per day (b/d) of crude oil in Q2 2026, a drop of 32% compared to the previous quarter.

This decline in imports is attributed to higher crude oil prices resulting from disrupted flows through the Strait of Hormuz. Despite this, China's recent decrease in crude oil imports contrasts with record-high imports before the conflict around the Strait of Hormuz.

The largest decreases in waterborne imports between Q1 and Q2 2026 were from Iraq (910,000 b/d), Russia, China's top source of imports, (640,000 b/d), and the UAE (600,000 b/d). This reduction in imports suggests that crude oil inventory draws are occurring in China.