China Hits Record Oil Imports as Iran Crisis Risks Energy Security

China is hitting all-time records for daily crude oil import volumes, just as the military confrontation between the United States and Iran threatens China’s energy supply security.

The General Administration of Customs announced that China’s monthly oil imports on a daily basis hit a record 11.13 million barrels per day (bpd) in November, up from 10.72 million bpd in October and 9.61 million bpd in November last year. At the current pace, China has passed the U.S. peak crude oil import level of 10.1 million bpd in 2005.

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