China has Increased Oil Imports from Russia to a Record Level
May deliveries amounted to almost 8.42 million tons, which is equivalent to about 1.98 million barrels per day. In April, this indicator was at the level of 1.59 million barrels per day. Raw materials are supplied to China via the Eastern Siberia — Pacific Ocean pipeline, as well as by sea from European and Far Eastern Russian ports.
Saudi Arabia, thus, became the second largest supplier, its May volumes increased by nine percent compared to May last year and amounted to 7.82 million tons, or 1.84 million barrels per day. The flow of Russian gas to China is also increasing. As Gazprom CEO Alexey Miller reported on the sidelines of the SPIEF, the company increased pipeline gas supplies to China by 67.5 percent from January to May compared to five months last year. He specified that the demand for natural gas in China from 2011 to 2021 provided 32 percent of the growth in total global demand.