Chinese state-run refiners are considering resuming crude imports from the United States after a nine-month suspension, driven by the ongoing supply crisis in the Middle East, S&P Global’s Platts reported on March 9. Last Thursday, China told its largest oil refiners to suspend exports of diesel and gasoline, Bloomberg News reported, citing unidentified sources, as the war in the Middle East risks an energy supply crunch. The move comes as NYMEX front-month crude surged $20.34 to $111.24 per barrel on March 8 amid disruptions to energy infrastructure caused by the war in the Middle East. China’s state-owned refineries are mandated to prioritize domestic energy supply over profits, according to market sources. If disruptions from the Middle East persist, Chinese refiners are expected to draw on these abundant reserves while weighing potential resumption of US crude imports.

Source: Punch March 09, 2026 16:37 UTC