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In 2025, China imported more oil and its products than any other region across the globe, at roughly ** barrels per day. Europe followed closely as the second-largest importer, with ** daily barrels.

Chinese demand on the rise

China has become the second largest oil consumer in the world, ranking only behind the U.S. However, while the latter saw its oil production more than * in the past decade, oil production in China has remained more or less stable in the period, with an average output of ** barrels per day. In contrast, China's oil consumption has about ** since the beginning of the century, with demand registering a year-over-year growth of almost *** percent in 2020, despite the coronavirus pandemic.

Oil movement between Europe and Russia

The European Economic Area, as well as Eastern European countries, also account for a high level of imports, as Russia is a major producer and exporter of oil, home to the largest proved oil reserves in Europe and Eurasia. Outside of Russia and former Soviet Union (FSU) countries, Norway and the United Kingdom are the only two European nations with significant oil production, yet still only a fraction of Russia’s. Nevertheless, the share of petroleum oil imported to the European Union from Russia has slowly declined in the past decade, to just below *** percent in the first quarter of 2024.