• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 8 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days The United States produced more crude oil than any nation, at any time.
  • 9 days e-truck insanity
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 8 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 9 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 9 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 13 days Bankruptcy in the Industry
M&A Fever Hits Canada's Oil and Gas Industry

M&A Fever Hits Canada's Oil and Gas Industry

The mergers and acquisitions wave…

Suing Big Oil Is Becoming a Lucrative Business

Suing Big Oil Is Becoming a Lucrative Business

Supermajors have been a top…

Don’t Believe The Critics: OPEC Cuts Are Working

Don’t Believe The Critics: OPEC Cuts Are Working

It appears that most forecasters…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

Russia Retains Position As China’s Top Oil Supplier

  • China imported an average of 1.9 million barrels of oil per day from Russia in July, a 13% increase year-over-year.
  • Russia overtook Saudi Arabia as China’s largest oil supplier in the first half of 2023, and retained pole position in July.
  • Chinese oil imports slumped in July compared to a month earlier, with both Russian and Saudi imports following suit.
oil

Despite higher oil prices and narrower discounts of Russian crudes to international benchmarks, Russia remained the single largest crude oil supplier to China in July, ahead of its OPEC+ partner Saudi Arabia, according to Chinese customs data.

Chinese imports of crude from Russia averaged 1.9 million barrels per day (bpd) last month, a 13% increase compared to July 2022, although arrivals from Russia were lower than the record-high hit in June, per the data released by China’s General Administration of Customs on Sunday and reported by Reuters.

In June, China broke the record for importing Russian crude oil, according to data from the Chinese General Administration of Customs cited by Reuters. Chinese imports from Russia averaged 2.56 million bpd in June, a surge of 44% compared to the same month in 2022.

During the first half of 2023, Chinese imports of Russian crude oil averaged 2.13 million bpd, which helped Russia oust its OPEC+ partner Saudi Arabia from the top spot as the single biggest supplier to the world’s top crude importer so far this year, per Financial Times estimates based on Chinese customs data. Imports from the world’s top crude oil exporter, Saudi Arabia, averaged 1.88 million bpd between January and June, according to FT’s calculations.

In July, Chinese crude imports from Russia again exceeded those from Saudi Arabia, which dropped by 14% from July last year and fell by 31% from June 2023, according to Reuters calculations based on China’s official figures.

Total Chinese crude oil imports slumped last month compared to June, although they were higher than in July 2022. China’s crude oil imports averaged 10.29 million bpd in July, compared to a near-record 12.67 million bpd in June. The July imports were 17% higher compared to the same month last year when China was still under strict Covid-related lockdowns.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News