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China's October Oil Imports Drop Amid Domestic Production Surge

11/12/2025

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Summary

Story summary

China's crude oil imports averaged 11.4 million barrels per day in October 2025, down from September but above a year earlier.
The rise reflects stock-building, with inventories estimated at 1.2–1.3 billion barrels.
China is expanding domestic oil and gas production, investing $468 billion in exploration since 2019.
State-owned companies have paused Russian oil purchases amid sanctions, and a new pipeline deal with Russia could boost gas exports.

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Story summary

China's crude oil imports averaged 11.4 million barrels per day in October 2025, down from September but above a year earlier.
The rise reflects stock-building, with inventories estimated at 1.2–1.3 billion barrels.
China is expanding domestic oil and gas production, investing $468 billion in exploration since 2019.
State-owned companies have paused Russian oil purchases amid sanctions, and a new pipeline deal with Russia could boost gas exports.