China has witnessed a dramatic rise in crude oil imports from Iraq, marking a notable 248% increase from August to September, totaling 4.84 million tons or approximately 1.18 million barrels per day (bpd). Despite this surge, imports faced a year-on-year decline of 19%, as indicated by recent data from Chinese customs.
Comparative Analysis of Major Oil Suppliers
Despite the substantial growth in Iraqi oil imports, Russia continues to dominate the Chinese crude supply market. In September, Russia exported 9.94 million tons, equivalent to roughly 2.42 million bpd, reflecting a 20% increase compared to the previous year, although it saw an 11% dip from August levels. Meanwhile, Brazil has also made significant strides, supplying 5.15 million tons, or around 1.25 million bpd, which represents an 18% annual increase. Conversely, Saudi Arabia’s shipments have plummeted by 62%, landing at 2.70 million tons or approximately 660,000 bpd.
Moreover, for the year-to-date figures, Brazil has surpassed Saudi Arabia, securing its position as China’s second-largest oil supplier. Over the first nine months of 2026, Brazil delivered 44.29 million tons of crude, while Saudi Arabia provided slightly less at 43.12 million tons.
Trends in Other Oil Imports
Shifting focus to other suppliers, imports from Oman amounted to 1.22 million tons, or approximately 300,000 bpd, which is a decline of 54% compared to the previous year, but an uptick of 30% from August figures. On the other hand, Malaysia, noted as a key transshipment center for Iranian oil, has seen its imports fall significantly. The country imported only 1.16 million tons, representing around 280,000 bpd, reflecting a drastic drop of 70% year-on-year and 56% from the prior month.
Interestingly, Chinese customs reported no crude oil imports recorded from the United States, Venezuela, or Iran in September. This trend remains consistent with figures from the same month in the previous year, indicating a stable yet concerning picture regarding these particular suppliers.
In conclusion, while Iraq has successfully increased its oil exports to China significantly, the large-scale dynamics of the global oil market remain complex. Russia retains its position as the leading supplier, while Brazil has taken over as a major player alongside Iraq. However, the stark declines in shipments from Saudi Arabia and the absence of imports from certain nations like the U.S. and Iran suggest that geopolitical tensions and market conditions continue to shape oil import strategies in China.