In 2025, China's crude oil imports reached 578 million tons, a year-on-year increase of 4.4%. Among these, crude oil imports in December alone hit 55.97 million tons, setting a new monthly record. PriceSeek's analysis of crude oil shows a long-short score of 1.5.

The surge in China's crude oil imports, particularly the record-breaking volume in December, reflects robust growth in domestic demand. This is likely to drive up spot prices for crude oil, as increased imports indicate tightening supply and strong consumption, which bodes well for market expectations. Considering recent futures market trends, rising crude oil demand may further support an upward price trajectory, though attention should be paid to global supply dynamics.

Gasoline, Long-Short Score: 1
As the primary raw material for gasoline, the increase in crude oil imports and rising prices will directly raise gasoline production costs. Strong crude oil demand in China may drive up spot prices for gasoline due to the cost-pass-through effect in refineries. Additionally, seasonal fluctuations in gasoline demand could amplify this impact, creating a favorable outlook for the gasoline market overall.

Diesel, Long-Short Score: 1
Diesel is closely linked to crude oil, and the record-high crude oil imports and rising prices will elevate diesel production costs. Stable demand for diesel from China's industrial and economic activities, combined with rising crude oil costs, may translate into higher spot prices for diesel, providing support. Positive performance on the demand side is favorable for diesel price trends.