BEIJING — China has reduced its crude oil imports by 14.6 percent during the first eight months of 2026, a move that analysts suggest has helped stabilize global energy prices amid ongoing supply disruptions in the Hormuz Strait.
Data released Tuesday by China’s customs authority indicates that the country imported 320.9 million tonnes of crude oil during this period. According to a commentary published by the International Energy Agency, China reduced its crude oil imports by nearly 40 percent between February and May, a reduction equivalent to approximately 4.6 million barrels per day.
Industry experts attribute this shift to a combination of high domestic inventories, lower refinery output, and a transition toward renewable energy sources. By 2025, renewable energy accounted for approximately 60 percent of China’s total installed power generation capacity, supported by the widespread adoption of electric vehicles.
Hsia Hua Sheng, an associate professor of finance at the Getulio Vargas Foundation’s Sao Paulo School of Business Administration, stated that China’s industrial capacity has allowed it to maintain steady foreign trade, which he argues has helped mitigate global supply-chain disruptions and inflationary pressures. This perspective is echoed by Geng Nan, a researcher with the Chinese Academy of International Trade and Economic Cooperation, who noted that China’s manufacturing output provides global producers with access to equipment and intermediate goods.
The role of China in the global economy was also highlighted by Gong Liutang, a professor at Peking University’s Guanghua School of Management, who described the country as a significant source of demand and a hub for green development. Recent trade data shows that China’s imports grew by 21.7 percent in August, marking the sixth consecutive month in which import growth has outpaced export growth.
In addition to its manufacturing and energy roles, China has implemented policies to increase market access for developing nations, including the extension of zero-tariff treatment to imports from 53 African countries as of May 2026.
Article and image source: brazilsun.com
