📈 China's Crude Oil Import Sources in 2024

China's crude oil imports have surged from 1.4 million barrels per day (bpd) in 2000 to an unprecedented 11.1 million bpd in 2024, solidifying its position as the world’s largest importer with a 23% share of global imports in 2023. GCC countries, Iraq, and Iran collectively supplied over half of these imports, while Russia, a key supplier, accounted for 20% in 2024.