Chinese oil refineries have cut their US oil imports by 90%, bringing them down to almost zero, and have reoriented themselves to record purchases of Canadian oil. This was reported by Bloomberg, citing data from analysts and traders. The main reason was the trade conflict between Beijing and Washington, which escalated after the US imposed tariffs of up to 145% on Chinese goods and China imposed retaliatory tariffs of 84%. These measures made American oil economically unprofitable for Chinese refineries, increasing its cost by $51 per barrel. Against this backdrop, China is actively increasing supplies from Canada, whose heavy Western Canadian Select oil is becoming increasingly attractive due to low prices and availability. However, experts are concerned that such changes could signal a possible reduction in purchases of Russian oil, which reached a record 2024 million tons in 108,5, accounting for 20% of Chinese imports.

The restructuring of supply chains is taking place amid global instability in the oil market caused by US sanctions against Russia and Iran. Fearing disruptions, China has begun emergency purchases of oil from the Middle East, Africa and South America, which has already led to higher prices for Murban and lower margins for refineries in Asia. For Russia, which has become a key supplier of oil to China, the situation creates new risks: if Beijing continues to diversify its sources, the share of Russian grades such as ESPO and Sokol could decline, especially against the backdrop of logistical difficulties and sanctions pressure.

According to Reuters, in March 2025, China bought a record 1,7 million barrels per day of Russian oil, redirecting flows from India, which had abandoned the Sokol grade due to sanctions. However, in July 2024, imports from Russia fell by 7,4% due to production cuts at Chinese refineries. Canadian oil attracts China with its low cost: in April 2025, the price of Western Canadian Select fell to $65 per barrel, which is 20% lower than Brent. This makes it a competitive alternative to Russian grades, despite more complex logistics. According to Vortexa, US supplies to China in 2025 accounted for only 1% of total imports, which makes it easy for Beijing to abandon American oil in favor of Canada and the UAE.