China October Crude Oil Imports Rebound 9.4% to Eight-Month High

China's crude oil imports climbed 9.4% month-over-month in October to 41.94 million metric tons, or roughly 9.88 million barrels per day, reaching their highest level since March. The sequential rebound followed months of reduced foreign purchases during which China drew from its estimated 1.3-billion-barrel inventory cushion amid Middle East geopolitical tensions. Seaborne deliveries rose 12% from September, aided by Saudi shipments rising to 1.62 million barrels per day. However, October crude imports fell 13.3% year-on-year, leaving total volumes for the first ten months down 15.1% compared to 2025.