Asia Crude Imports Stay Well Below Pre-War Levels in June
Asia's crude oil imports in June are expected at 20.71 million bpd, far below the pre-war average of 26.79 million bpd, as constrained Middle Eastern flows and high prices persist.
Asia's crude oil imports remain significantly below pre-war levels in June, despite a slight recovery from May. Data from Kpler, cited by Reuters columnist Clyde Russell, shows expected imports of just 20.71 million barrels per day (bpd) this month. This compares with an average of 26.79 million bpd in the three months before the Iran war started on February 28.
The persistent shortfall is driven by constrained flows from the Middle East and high prices for alternative supplies. The disruption has forced Asian refiners to seek cargoes from farther afield, including the US and West Africa, but these come at a premium. The reduced availability of medium-sour grades from the Middle East has also complicated refinery operations, as many Asian plants are configured to process those grades. For traders tracking real-time fuel quotes, NowPrice offers the latest price levels across key Asian hubs.
Looking ahead, the market will watch for any easing of Middle Eastern tensions that could restore flows, as well as demand signals from China, the region's largest importer. The upcoming OPEC+ meeting will also be crucial, as the group's output policy directly impacts global supply balances. Until then, Asia's import volumes are likely to remain subdued, keeping pressure on regional refining margins.