China, the world’s largest importer of crude oil, imported 11.3 million barrels per day (b/d) of crude oil in 2023, 10% more than in 2022, according to China customs data. Refiners in China imported record volumes of crude oil in 2023 to supply the country’s increasing refining capacity in order to support the country’s transportation fuel needs and produce feedstocks for its growing petrochemical industry.
