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Chinese Oil Buyers Reduce Russian Purchases
Market Intelligence Analysis
AI-Powered
Why This Matters
Chinese oil buyers, including state-owned majors and independent refiners, are reducing or halting Russian oil purchases following recent U.S. sanctions. This shift is driven by concerns about potential penalties for violating the sanctions, leading to a wait-and-see approach.
Market Impact
Market impact analysis based on bearish sentiment with 90% confidence.
Sentiment
Bearish
AI Confidence
90%
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
Chinese refiners are canceling Russian oil cargos and adopting a wait-and-see attitude after the latest U.S. sanctions on Russia’s oil industry. Bloomberg reports, citing traders, that state-owned majors including Sinopec and PetroChina had canceled previously ordered Russian oil cargos, while the so-called teapots, or independent refiners, had stopped buying Russian crude to avoid getting penalized for violating the U.S. sanctions. The publication cited Rystad Energy as estimating that some 45% of Chinese imports of Russian crude have been…
Original article published by
OilPrice.com
on November 3, 2025.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.