24.05.2022, 11:01
China Boosts Russian Oil Imports to Record 1.1 Million Barrels Per Day
Source: OREANDA-NEWS
OREANDA-NEWS Deliveries of Russian ESPO oil to China rose to a record 1.1 million barrels per day in May. It is reported by Bloomberg.
Analysts at Vortexa Ltd. noted that in May 20 out of 21 tankers that were loaded in the port of Kozmino in Nakhodka headed for China. In total, 33 tankers with oil should be sent in May. At the same time, maritime imports to China rose to a record 1.1 million bpd, compared with 750,000 bpd in the first quarter of 2022.
Prior to this, Vortexa reported 27 out of 32 tankers in April and 24 out of 31 in March 2022. At the same time, China is actively buying oil from Russia against the backdrop of a mass refusal of other market participants.
Earlier on Tuesday, the President of the European Commission (EC), Ursula von der Leyen, spoke out against an urgent refusal to purchase Russian oil. According to the head of the EC, if Brussels “completely and immediately” refuses oil from Russia, Russian President Vladimir Putin “probably will be able to transfer the oil that he does not sell to the European Union to the world market, where prices will increase, and get more for it. amount."
Analysts at Vortexa Ltd. noted that in May 20 out of 21 tankers that were loaded in the port of Kozmino in Nakhodka headed for China. In total, 33 tankers with oil should be sent in May. At the same time, maritime imports to China rose to a record 1.1 million bpd, compared with 750,000 bpd in the first quarter of 2022.
Prior to this, Vortexa reported 27 out of 32 tankers in April and 24 out of 31 in March 2022. At the same time, China is actively buying oil from Russia against the backdrop of a mass refusal of other market participants.
Earlier on Tuesday, the President of the European Commission (EC), Ursula von der Leyen, spoke out against an urgent refusal to purchase Russian oil. According to the head of the EC, if Brussels “completely and immediately” refuses oil from Russia, Russian President Vladimir Putin “probably will be able to transfer the oil that he does not sell to the European Union to the world market, where prices will increase, and get more for it. amount."
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