China Accounting For 19% of Global Crude Oil Trade

AI Summary

China accounted for 19% of global crude oil trade after the first eight months of 2026, holding its position as the largest market for seaborne crude imports. Reports indicate a recovery in crude oil volumes following a slight decline in 2024.

The Chinese market remains the largest one in terms of seaborne crude oil imports, after the first eight months of 2026. In its latest weekly report, shipbroker Banchero Costa said that “after a marginal decline in 2024, when global crude oil loadings decreased by -0.2% y-o-y, things picked up in 2025, with full-year volumes increasing ...