China Crude Imports Hit Seven-Month High

China’s crude oil imports rose 9.4% in October to 41.94 million tons, their highest monthly level since March, as refiners resumed buying after months of drawing down inventories. The increase appears tied to restocking amid Middle East conflict and seasonal preparation for higher winter refinery demand, with Saudi shipments also rebounding. Because China is the world’s largest crude importer, renewed purchasing could tighten available supplies and add upward pressure to prices, though oil markets have recently swung sharply, with crude retreating from a wartime peak to below $100 a barrel. Analysts will be watching whether the import rebound continues and reflects sustained demand or a temporary inventory rebuild.