Rising oil prices may pressure Asian imports in July and August — Reuters

Oil imports in Asia increased in the first half of 2025, driven by a sharp rise in June shipments, despite a weak start to the year. The region's fuel imports averaged 27.36 million barrels per day in the first six months of the year, up 620,000 barrels per day year-over-year, LSEG Oil Research reports.

The significant growth occurred in June, when imports reached 28.65 million barrels per day, the highest level since January 2023. China led the way, purchasing 11.96 million barrels daily.

As Reuters reports, the key question is whether the surge in June imports signals stronger demand in the second half of the year or if it is merely a temporary phenomenon. Costs are a major factor, as both China and India are sensitive to fluctuations in oil prices.

With rising prices expected to be felt mainly in late July and August, it will be important to monitor any potential decline in imports to the region, the news agency notes. Official data shows that demand for oil and refined products in Asia is not growing. In China, crude processing increased by only 0.3% in the first five months of the year, while in India, fuel consumption fell by 10,000 barrels per day from last year.