Russia retained its position as China’s largest oil supplier for three months in July as independent refiners ramped up purchases of discounted supply while cutting shipments from rival suppliers such as Angola and Brazil. Did.
China Customs General Administration data showed oil imports from Russia amounted to 7.15 million tonnes, up 7.6% from a year ago. Still, Russian supplies in July amounted to about 1.68 million barrels per day (bpd), well below his May record of nearly 2 million bpd.
Imports from second-largest Saudi Arabia recovered to a three-year low of 6.56 million tonnes (1.54 million bpd) last June, but still slightly below the level of a year ago.
Year-to-date imports from Russia amounted to 48.45 million tonnes, up 4.4% year-on-year and still trailing Saudi Arabia, which supplied 49.84 million tonnes, and 1% below the previous year’s level.
Strong Russian purchases weighed on competing supplies from Angola and Brazil, down 27% and 58% year-on-year, respectively.
Imports from Angola, China’s fourth largest oil supplier, reached 19.3 million tonnes since January, down 15.5% from 2021.
Also, oil imports from Brazil fell by 27% to 14 million tonnes since the beginning of the year, making the South American country China’s fifth largest supplier, CLBrief reported.