China Hikes Russian Crude Imports as India Retreats
Market Intelligence Analysis
AI-PoweredChina's crude oil imports from Russia have increased, offsetting the decline in Indian refiners' purchases of Russian crude, as per tanker-tracking data.
Market impact analysis based on bullish sentiment with 80% confidence.
Article Context
A jump in China’s crude oil imports from Russia is more than compensating the withdrawal of the Indian refiners from spot Russian purchases, according to tanker-tracking data compiled by Bloomberg. So far in February, deliveries of Russia-origin cargoes at Chinese ports have averaged 2.09 million barrels per day (bpd), up from an average of 1.72 million bpd in the full month of January and 1.39 million for December, the data showed. For Russia, the hike in Chinese purchases of its crude has more than offset the loss of a…
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