Russia becomes China’s Biggest Oil Supplier

Russia surpassed Saudi Arabia as China’s biggest oil supplier with refiners taking advantage of cheap barrels to feed rebounding demand in Asia’s biggest economy following the end of Covid Zero.

Related Posts

• 
  2024: Big Oil Comes in From the Cold on Energy Transition
• 
  Analysing Iraq’s Ambition to Match Saudi Oil Output is out Of Reach
• 
  China to Launch New Renewable Energy Pilot Scheme for Rural Areas
• 
  China's Oil Giant Sinopec Posts Lower-Than-Expected Profits In 2022
• 
  Energy Demand in Africa Expected to Rise to 35%  in Next 20 Years - Kyari
• 
  Energy: Africa Data Centres and Distributed Power Africa work together to reach Sustainable Development Goals
• 
  Espionage: South Korea to inspect all Port Cranes bought from China
• 
  Major Products Draws Send Oil Prices Higher
• 
  Oil Gains Ground As Investors Assess Banks, Russia
• 
  Oil prices near $75 as Russia extends output cut through June
• 
  Russia Could Seek Compensation Over Nord Stream Sabotage
• 
  Russia Gasoline Exports Surges, turns to Africa after EU Embargo 
• 
  Russia’s Oil Revenues Plunged by 48% in February
• 
  U.S. Gasoline Awaits Next Price Hike Catalyst
• 
  Ukraine War: Russia’s Oil and Gas Revenues Slump 46%
• 
  Why the Brent Price Plunge hasn’t Attracted Asian Buyers

The Asian nation imported 7.69 million tons of crude from Russia last month, or 2 million barrels a day, according to Chinese customs data. Flows from Saudi Arabia slipped to the lowest level since June, down 29% from January.

Demand for transport fuels such as gasoline has returned aggressively in China following the end of Covid restrictions late last year, leading to more frequent traffic jams in major cities. Russia and Saudi Arabia have shared the title of China’s top crude oil supplier more often since the war.

Energy is expected to be among the key topics discussed during Chinese President Xi Jinping’s visit to Moscow this week, labeled by Beijing as a journey of “friendship, cooperation, and peace.” Russia is also a major supplier of coal and liquefied natural gas to China.