Asia's Crude Imports Hit Highest Level Since the Iran War Began
Asia's crude oil imports are set to rise to 23.96 million barrels per day (bpd) in September, the highest monthly intake since February, according to Kpler data cited by Reuters columnist Clyde Russell. While imports have recovered from the lows seen in April and May after disruptions around the Strait of Hormuz, they remain below pre-war levels.
Why It Matters
The increase signals a partial recovery in Asian demand after supply disruptions tied to the Iran war earlier this year, but continued shortfalls from Middle East flows and elevated prices mean regional imports have not returned to pre-conflict volumes.
Key Facts
- September crude imports (Asia): 23.96 million bpd (Kpler, cited by Clyde Russell/Reuters)
- August crude imports (Asia): 23.38 million bpd
- Highest since: February (month before the Iran war began)
- Shortfall vs pre-war levels: About 13% lower
- China August imports: 8.93 million bpd (official Chinese customs data) - up 6.2% vs July, ~2 million bpd below pre-war levels)
Data compiled by Kpler and cited by Reuters columnist Clyde Russell show Asia is poised to import about 23.96 million barrels per day of crude oil in September, a rise from 23.38 million bpd in August and the highest monthly volume since February. The rebound follows steep reductions in purchases earlier this year after the Iran war triggered severe supply disruptions from the Middle East. Analysts and trade data indicate Asian refiners have been recovering from 10-year lows recorded in April and May, when buyers scrambled to source alternatives amid sharply constrained flows through the Strait of Hormuz. Although volumes out of that key chokepoint have increased in recent weeks compared with the spring trough, they have not returned to the levels seen before the conflict. China, the world’s largest crude importer, has regained some flows but remains below its pre-war intake. Official customs figures show China imported 8.93 million bpd in August, a 6.2% rise from July and a recovery from June’s decade-low, yet still roughly 2 million bpd shy of the level before the war. Market observers note that sustained high crude prices are likely to limit any sizeable uptick in purchases. With Brent near $100 per barrel, Goldman Sachs analysts—quoted by Bloomberg—project China’s imports will increase by about 600,000 bpd in the fourth quarter compared with the third, suggesting only a modest further recovery if prices persist.