Russia held its position as China’s top oil supplier for the third month of July, the data showed. This can be seen as an oil pumping unit at the Huabei oil field on the outskirts of Hejian city, Hebei province, China.
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Russia held its position as China’s top oil supplier for the third month of July, data showed on Saturday, as independent refiners ramped up purchases of discounted supply while cutting shipments. goods from rival suppliers such as Angola and Brazil.
Data from China’s General Administration of Customs shows that Russia’s oil imports, including supplies pumped through the East Siberian Pacific pipeline and sea shipments from Russia’s European and Far Eastern ports, reached 7.15 million tons, up 7.6% from a year ago.
However, Russia’s supply in July, or about 1.68 million bpd (bpd), was well below May’s record level of nearly 2 million bpd. China is Russia’s biggest oil buyer.
Imports from second-ranked Saudi Arabia rebounded last month from June, their lowest level in more than three years, to 6.56 million tonnes, or 1.54 million bpd, but still slightly lower. compared with the level of the previous year.
Imports from Russia up to now are 48.45 million tons, up 4.4% over the same period last year, still behind Saudi Arabia, the country supplying 49.84 million tons, or low. 1% more than the previous year.
China’s crude oil imports in July fell 9.5% from a year earlier, with daily volumes at the second lowest level in four years, as refineries reduced inventories and fuel demand. Domestic data recovery is slower than expected.
Strong Russian buying has squeezed competitive supply from Angola and Brazil, down 27% year-on-year and 58% respectively.
Customs reported no imports from Venezuela or Iran last month. State-owned oil companies have avoided buying since late 2019 for fear of violating secondary US sanctions.
In tons of June.
