In 2023, China's oil imports stood at approximately 12.4 million barrels per day. The forecast data for 2024 to 2028 indicates a consistent growth pattern, with imports increasing annually. Specifically, the annual growth rates are approximately 1.98% from 2024 to 2025, 1.86% from 2025 to 2026, 1.83% from 2026 to 2027, and 1.79% from 2027 to 2028. The compound annual growth rate (CAGR) over this period is approximately 1.86%, reflecting steady growth in oil imports over these years.

Future trends to watch for include:

Geopolitical influences affecting oil supply chains.
The impact of global energy transition policies on fossil fuel demand in China.
Technological advancements in energy efficiency and alternative energy sources adoption by China.