China Raises 2025 Crude Oil Import Quota for Non-State Trading to 257 Million Metric Tons

Oct 22, 2024, 06:51 AM

China's Ministry of Commerce has announced a significant increase in its crude oil import quota for non-state trading for 2025. The new quota is set at 257 million metric tons, representing a 5.7% increase from the previous steady quota of 243 million metric tons from 2021 to 2024. Additionally, data from China's customs office revealed that in September, China imported no crude oil from Iran and Venezuela. Meanwhile, China continues to import crude oil from other countries, including Malaysia, Saudi Arabia, and Russia.