China Russian Oil Imports Set to Hit New Record
Chinese refiners are increasing Russian crude imports to over 2 million barrels per day this month. Deep discounts and geopolitical risks drive the shift.
China is poised to reach a new milestone in its energy imports as seaborne shipments of crude from Russia are expected to hit record levels this February. This surge comes as independent Chinese refiners capitalize on significant price discounts following a sharp reduction in purchases by India.
Data from Vortexa Analytics indicates that Russian crude shipments to Chinese ports are estimated to reach 2.07 million barrels per day (bpd) in February, a notable increase from the 1.7 million bpd recorded in January. Similar projections from Kpler place the import volume slightly higher at 2.083 million bpd. This trend marks the third consecutive month of growth for Russian oil flows into the world's second-largest economy.
