China's July Oil Imports From Top Supplier Russia Fall 7.4% From a Year Ago
China's crude oil imports from top supplier Russia fell in July by 7.4 per cent from a year earlier, official data showed on Tuesday (Aug 20), in line with a broad decline in Chinese refiners' purchases that were curbed by tepid fuel demand at home.
China's crude oil imports from Russia fell 7.4% year-on-year in July to 1.76 million bpd. Saudi Arabian shipments rose 13% to 1.51 million bpd, while imports from Malaysia surged 61% to 1.46 million bpd. US shipments increased 53% to 240,000 bpd.
Russian oil arrivals, including via pipelines and shipments, totalled 7.46 million metric tons last month, or 1.76 million barrels per day (bpd), according to data from the General Administration of Customs.
Year-to-date volumes from the top producer in the Organization of the Petroleum Exporting Countries were 46.79 million tons, or 1.6 million bpd, down 10 per cent year-on-year, the data showed. That trailed behind Russian supply of 62.58 million tons, or 2.14 million bpd, during the same period, up 3 per cent on the year.
Imports from Malaysia, a major transshipment hub for sanctioned oil from Iran and Venezuela, surged 61 per cent on the year to 6.21 million tons, or 1.46 million bpd, keeping the country as the third-largest supplier for July.
Imports from Malaysia totalled 35.68 million tons for the first seven months of the year, an increase of 21 per cent year-on-year. China did not record any imports from Iran or Venezuela last month. Shipments from the US increased 53 per cent year-on-year in July at 240,000 bpd.
Source: www.channelnewsasia.com
