Former IEA Oil Chief: China's Energy Strategy Reduces Reliance on Venezuelan Crude

A former head of the International Energy Agency asserts that China no longer depends on Venezuelan oil, citing shifts in global supply chains and domestic energy policy. The statement underscores China’s strategic pivot toward diversification and self-sufficiency in energy.

China has effectively decoupled from Venezuelan oil imports, according to a senior energy official formerly with the International Energy Agency. The shift reflects broader changes in China’s energy procurement strategy, driven by geopolitical risks and a strategic focus on supply chain resilience. Data from 2025 revealed that Venezuela’s crude exports to China fell to just 180,000 barrels per day, down from a peak of 420,000 bpd in 2020. This represents a 57% drop over five years, with China redirecting purchases toward Middle Eastern and African suppliers. The country’s domestic oil production has also risen to 4.8 million bpd, covering over 50% of its total consumption. The decline in Venezuelan shipments coincides with China’s increased investment in renewable energy and electric vehicle infrastructure. By 2025, renewables accounted for 38% of China’s total energy consumption, up from 24% in 2020. This transition reduces overall oil demand, further diminishing the need for imports from politically unstable regions. The shift impacts global oil markets, particularly affecting countries that once relied on China’s demand. Venezuela's government reported a 29% drop in oil export revenues in 2025, directly linked to reduced sales to China. Meanwhile, Gulf suppliers like Saudi Arabia and Iraq saw their share of China’s crude imports rise to 62% from 48% in 2020.