Russia remains the supplier of oil to China for the third month in a row
According to data provided by the customs, Russia remains the supplier of oil to China for the third month in a row. This is due to the fact that local refineries prefer to buy Russian oil at a discount than to buy it at full price from exciting interests – Angola and Brazil.
Imports of Russian oil, including supplies via the East Siberia-Pacific Ocean pipeline and sea transportation from European and Far Eastern ports of Russia, amounted to 7.15 million tons, which is 7.6% more than a year ago.
Since the beginning of the year, imports from Russia amounted to 48.45 million tons, which is 4.4% more than a year ago. However, Russia is still at the disposal of Saudi Arabia, which has delivered 49.84 million tons to China this year.
China’s total crude oil imports soon fell 9.5% year-over-year, with daily volumes topping one of the lowest levels in four years as refineries hoard inventories and domestic fuel demand recovers more slowly than the content axis.
China’s purchases of oil from Russia also account for a share of deliveries from Angola and Brazil, with imports from these countries down 27% and 58% year-on-year, respectively.
In addition, the customs managed to completely get rid of oil imports from Venezuela and Iran last month. Imports from Malaysia, which in the past two years has often been used as a transshipment point for oil from Iran and Venezuela, rose by 183% to 3.34 million tons compared to the same period last year with a figure of 2.65 million tons.
Authors – Clarence Fernandez;
Source – Reuters
Translation – Daniil Prilepsky “Moskovskaya Pravda”
Screenshot from Reuters website