.
China May oil imports from Russia soar to a record, surpass top supplier Saudi
- font size decrease font size
increase font size
SINGAPORE, 21 June 2022, (TON): China's crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine.
According to data from the Chinese General Administration of Customs “imports of Russian oil, including supplies pumped via the East Siberia Pacific Ocean pipeline and seaborne shipments from Russia's European and Far Eastern ports, totalled nearly 8.42 million tonnes.”
That's equivalent to roughly 1.98 million barrels per day (bpd) and up a quarter from 1.59 million bpd in April.
The data, which shows that Russia took back the top ranking of suppliers to the world's biggest crude oil importer after a gap of 19 months, indicates that Moscow is able to find buyers for its oil despite western sanctions, though it has had to slash prices.
Leave a comment
Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.
