Import growth puts Russia as the main supplier of oil in the country, replacing Saudi Arabia
Chinese imports of Russian oil are up 55% from a year ago. With this, Russia consolidates itself as the main supplier of oil to the country, replacing Saudi Arabia. The information is from Reuters.
The rise was sparked by discounts offered during increased sanctions in retaliation for the Russian invasion of Ukraine.
Imports are carried out through the pipeline located in the Eastern Siberian Pacific Ocean and by sea shipments from Russian ports in Europe and the Far East.
According to the Chinese General Administration of Customs, 8.42 million tons of oil were imported in May, equivalent to 1.98 million barrels a day.
Saudi Arabia, once the country’s main oil supplier, now ranks 2nd with 7.82 million tonnes, or 1.84 million barrels per day.
The data shows that it took Russia 19 months to regain the 1st place in the ranking of oil suppliers to China, indicating that the country can find buyers even in the face of Western sanctions.
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