CHINA HAS SET A QUOTA ON OIL IMPORTS THROUGH NON-STATE CHANNELS.

According to a statement from the Chinese Ministry of Commerce, China's quota for oil imports through non-state channels for 2026 has been set at 257 million tons.

"The authorized volume of crude oil imports through non-state trade for 2026 is 257 million tons," the agency said in a statement.

On Tuesday, the Ministry of Commerce also released a list of requirements for companies intending to purchase oil through non-state channels. These include, in particular, requirements regarding the capacity of existing storage tanks and the availability of specialized personnel.

Companies wishing to import oil through non-state channels must submit an application in advance.

According to China's National Bureau of Statistics, China's oil production increased by 1.7% in the first three quarters of 2025 compared to the same period in 2024, reaching 162.63 million tons. By the end of 2024, China's oil production had increased by 1.8%, reaching 212.82 million tons.