Chinese Independent Refiners Shift to Iraqi and Qatari Crude Amid Falling Iranian Supplies

Key Facts

1Chinese independent refiners increased purchases of Iraqi and Qatari crude for October and November delivery.

2The move aims to replace dwindling Iranian supplies as exports through the Strait of Hormuz recover.

Chinese independent refiners increased their purchases of Iraqi and Qatari crude oil for delivery in October and November 2026. Reuters reported that the move is intended to replace dwindling Iranian supplies as exports through the Strait of Hormuz recover.

This shift in trade flows comes as private refiners in China seek to diversify their sourcing from other Gulf producers to ensure operational continuity through the fourth quarter. The stabilization of maritime logistics in the region supports the transition toward Iraqi and Qatari crude to fill the gap left by falling Iranian volumes.