Daily Management Review

Reuters: China increases Russian oil imports to record levels


According to Reuters, China raised its oil imports from Russia by nearly 25% on a monthly basis and by 55 percent on an annual basis in May, bringing purchases to a record high.

Oil shipments from Russia to China totaled about 8.42 million tonnes (or 1.98 million barrels per day) in May, according to the data, including supplies via the East Siberia-Pacific Ocean pipeline.

The statistic also includes marine shipments from Russian ports in both the European and Far Eastern parts of the country. Meanwhile, in April, deliveries averaged roughly 1.59 million barrels per day.

According to the documents, Russia has now ousted Saudi Arabia from first place on the list of significant oil suppliers to China. Last month, Riyadh shipped 7.82 million tonnes of the commodity to the kingdom, or 1.84 million barrels per day, a rise of 9% year on year.

source: reuters.com