Russia has consolidated its position as China’s primary oil supplier, surpassing Saudi Arabia in the first ten months of the year and regaining its monthly top spot from Angola, according to Reuters.
China’s oil imports from Russia increased by 39% to 1.12 million barrels a day. Over the first ten months of the year, the daily supply of Russian oil to China reached 1.03 million barrels.
However, oil shipments to China in general fell to their lowest level since January as independent refineries reduced purchases due to higher oil prices and increasing government control.
Iranian oil imports to China jumped by 129% to 773,860 barrels a day while Iraq shipped 875,400 barrels a day, a 60% increase.
Saudi Arabian oil imports dropped 0.28% to 935,800 barrels a day.