The decline in Asian crude oil imports poses a challenge to demand forecasts for 2025

In 2025, the import volume of crude oil in Asia started weakly due to China, the largest importer, continuing to reduce its purchases, while new sanctions have suppressed the import of crude oil from Russia, the largest supplier in Asia.

According to data compiled by LSEG Oil Research, the import volume of Asia in the first two months of this year is expected to be 26.17 million barrels per day, a decrease of 780000 barrels per day from 26.96 million barrels per day in the same period last year.

The import volume of crude oil in Asia in the first two months of this year decreased by about 3% compared to the same period in 2024, which has questioned the predictions of the Organization of the Petroleum Exporting Countries (OPEC) and other analysts for steady growth in crude oil demand this year.