Crude oil imports by China, the world's largest buyer, fell sharply in April 2026 as the Iran war and the closure of the Strait of Hormuz tightened energy flows. Customs data released Saturday showed crude imports dropped 20% year-on-year to 38.5 million metric tons, the lowest monthly level since July 2022. Refined oil product exports also slumped to roughly the lowest in nearly 10 years, falling to 3.1 million tons — a one-third decline from March — as Beijing tightened controls on shipments of gasoline and jet fuel to protect domestic supply.
China sources about half of its crude from the Middle East, making the Strait of Hormuz closure a critical pressure point for its energy balance. According to vessel-tracking firm Kpler, seaborne crude imports averaged 8.03 million barrels per day, the lowest in about four years. Despite the import slump, Vortexa estimated Chinese crude stockpiles climbed by 17 million barrels in April, though the firm projects inventories will draw down in May as the import shock filters through with a lag.
The refined-products squeeze reflects Beijing's domestic-priority stance. Quotas on gasoline, diesel and jet fuel exports have steered refinery output toward the home market. April figures may, however, overstate true outbound flows because the data typically include shipments to Hong Kong — a major Chinese refined-product hub — which fall outside ordinary export controls. On the gas side, natural gas imports dropped 13% to 8.42 million tons; the data do not separate seaborne LNG from pipeline volumes, but disrupted Gulf LNG flows are believed to be weighing on the totals.
Year-to-date numbers have not yet fully absorbed the April shock — China's crude imports for the first four months reached 185.3 million tons, still 1.3% above the same period last year. Yet the April collapse signals that the cumulative gap will likely close as the rest of 2026 unfolds. For maritime carriers, the China import pullback weakens VLCC utilization on Persian Gulf and Gulf of Oman routes, while refiners and P&I clubs continue to face elevated war risk premiums that are filtering into contract pricing with a lag.
Key Takeaways:
1. China's April 2026 crude oil imports fell 20% year-on-year to 38.5 million tons, the lowest since July 2022.
2. Refined oil product exports dropped to 3.1 million tons — roughly a 10-year low and one-third below March.
3. Kpler data showed seaborne crude imports averaged 8.03 million barrels per day, the lowest in about four years.
4. Vortexa estimated stockpiles rose by 17 million barrels in April but expects inventories to draw down in May.
5. Natural gas imports fell 13% to 8.42 million tons; January-April crude is still 1.3% above last year.
