---
title: "Chinese oil imports at near-decade low helping tamp down global crude prices"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288783482.md"
description: "Chinese crude oil imports have dropped significantly, helping to suppress global prices below $100/bbl despite Middle East tensions. Morgan Stanley and S&P Global report a sharp decline in seaborne arrivals, attributed to strategic destocking and production cuts. While EVs and renewables provide a buffer, analysts warn that sustained low demand is unsustainable. Meanwhile, tentative ceasefire talks and Russian production declines further influenced markets, with Nymex crude falling 3.1% to $93.04/bbl."
datetime: "2026-06-04T23:45:41.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288783482.md)
  - [en](https://longbridge.com/en/news/288783482.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288783482.md)
---

# Chinese oil imports at near-decade low helping tamp down global crude prices


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