China to replace Venezuelan oil with Iranian oil: analysts

TEHRAN, (MNA) – Chinese independent refiners are expected to increasingly rely on Iranian heavy crude in the coming months, as Venezuelan oil shipments to China stall after the United States moved to redirect Venezuelan exports, analysts say.

According to a report by Reuters on Wednesday, traders and analysts said that independent Chinese refiners are expected to turn to heavy crude from sources including Iran in the coming months instead of Venezuelan oil shipments, which have been halted since the United States kidnapped President Nicolas Maduro.

Analysts suggested that this arrangement would reduce Venezuelan oil supplies to China, a source of cheap oil for independent refiners. China, the world's largest crude oil importer, is a major buyer of sanctioned oil sold at discounted prices by Russia, Iran, and Venezuela.

Venezuelan crude flows to China are expected to shrink after President Donald Trump said on Tuesday that Washington and Caracas agreed to allow up to $2 billion worth of Venezuelan oil exports to flow to the United States after the US abduction of Venezuelan President Nicolas Maduro over the weekend.

China imported about 389,000 barrels per day of Venezuelan oil in 2025, roughly 4% of its total seaborne crude imports, according to Kpler data.

Despite the intensification of the US sanctions on Iranian oil exports, China is continuing its growing trend of Iranian oil imports.