Global demand for imported crude oil reached a total value of approximately US$1.174 trillion in 2025, driven by consumption across 111 countries, territories, and island economies worldwide.

Compared with 2021, when global crude oil imports were valued at US$1.063 trillion, total spending increased by 10.5% over five years, reflecting long-term growth in global energy demand.

However, on a year-over-year basis, crude oil import expenditures declined significantly by 12.9%, dropping from US$1.348 trillion in 2024.

Global Leaders in Crude Oil Imports

The world’s crude oil import market is highly concentrated. The top five importing economies—mainland China, the United States, India, South Korea, and Japan—accounted for more than 61.4% of total global crude oil import spending in 2025.

From a geographic perspective, Asia dominated global crude oil imports, purchasing around US$690.7 billion, which represents 58.8% of worldwide demand.

Europe ranked second with 24.8%, while North America accounted for 13.6% of total imports.

· Smaller shares were distributed across other regions, including:

· Latin America (excluding Mexico, including the Caribbean): 1.5%

· Africa: 0.9%

· Oceania (mainly Australia): 0.4%

For classification purposes, crude oil is identified under HS Code 2709 in the Harmonized Tariff System.

Top Crude Oil Importing Countries in 2025

Below are the 15 largest crude oil importers by value in 2025:

1. mainland China: US$295.4B (25.2%)

2. United States: $146.8B (12.5%)

3. India: $138.8B (11.8%)

4. South Korea: $75.3B (6.4%)

5. Japan: $64.3B (5.5%)

6. Germany: $40.7B (3.5%)

7. Netherlands: $40.1B (3.4%)

8. Spain: $32.7B (2.8%)

9. Thailand: $29.1B (2.5%)

10. France: $27.8B (2.4%)

11. Singapore: $25.7B (2.2%)

12. United Kingdom: $25.7B (2.2%)

13. Italy: $25.2B (2.1%)

14. Taiwan: $21.7B (1.8%)

15. Belgium: $20.1B (1.7%)

Collectively, these 15 economies were responsible for 85.9% of total global crude oil imports in 2025, highlighting a highly concentrated import structure.

Countries with Declining Imports

Several major importers recorded noticeable declines in crude oil spending during the year. The steepest drops were observed in:

· Italy (-22.5%)

· Netherlands (-18.3%)

· United Kingdom (-17.2%)

· Belgium (-16.6%)

· Germany (-16%)

· United States (-15.8%)

· Thailand (-13.9%)

· South Korea (-11.9%)

Crude Oil Import Companies (2025)  >>Find More Crude Oil Importers via Tendata

According to Tendata trade intelligence data, the following companies ranked among the top global crude oil importers in 2025:

1. INDIAN OIL CORPORATION LTD — 15.78% ($42,835.98M)

2. RELIANCE INDUSTRIES LTD — 14.09% ($38,257.25M)

3. HINDUSTAN PETROLEUM CORPORATION LIMITED — 11.68% ($31,707.95M)

4. BHARAT PETROLEUM CORPORATION LTD — 11.44% ($31,071.68M)

5. MANGALORE REFINERY AND PETROCHEMICALS LTD — 11.17% ($30,329.91M)

6. CHENNAI PETROLEUM CORPORATION LIMITED — 7.49% ($20,338.56M)

7. HPCL MITTAL ENERGY LIMITED — 4.35% ($11,819.24M)

8. ESSAR OIL LTD — 4.30% ($11,663.78M)

9. NGHI SON REFINERY AND PETROCHEMICAL COMPANY LIMITED — 2.23% ($6,056.79M)

10. PAK ARAB REFINERY LIMITED — 2.18% ($5,909.34M)