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China's imports of crude %Oil are forecast to slow in this year's second half amid lackluster economic growth.

Currently, China is importing about 11.30 million barrels per day of oil from foreign nations. However, that level is forecast to decline as the country's energy demands soften.

At the same time, China's stockpile of oil stood at 1.21 billion barrels in July, an all-time high, and alleviating the need to continue adding to the reserves aggressively in the second half.

Data from the government in Beijing shows that China's crude inventory has decreased by about 7.83 million barrels in August, retreating from the record high achieved in July.

S&P Global Commodity Insights (SPGI) forecasts that China's crude imports will slow to about 11.05 million barrels per day for the remainder of 2025.

The declining imports come as China struggles with a sluggish economy, dampening the country's oil demand.

S&P Global expect China's economic growth to slow in the year's second half on reduced domestic stimulus and the impact of the trade conflict with the rival U.S.

The pullback in Chinese imports comes at a difficult time for the oil market, with crude prices slumping to about $65 U.S. per barrel on concerns related to demand and oversupply.

Weak oil prices are weighing down the stocks of oil majors such as %BritishPetroleum (NYSE: $BP ) and %Chevron (CVX).