China's oil imports plunge 40 percent, keeping a lid on energy prices

China's oil imports plunge 40 percent, keeping a lid on energy prices Submitted by MEE staff on Wed, 07/15/2026 - 17:30 China's oil imports plunged to a near decade low in June A general view of the crude oil refinery, Sinopec Jinling Petrochemical Plant, in Nanjing, China, in the eastern Jiangsu province, on 8 May 2026 (Hector Retamal/AFP) Off China’s crude oil imports in June hit their lowest level in a decade, marking a major plunge that has helped keep energy prices contained amid escalating fighting between th