China’s crude oil imports drop 15% in first 10 months of 2026

Chinese crude oil imports rebounded in October, reaching a seven‑month high as shipments from the Persian Gulf recovered, according to a report. However, data for the first ten months of 2026 shows imports fell 15% year‑over‑year, and the nation’s trade surplus surpassed $1 trillion, putting it on track for a new annual record that could heighten trade tensions.