{"id":65531,"date":"2023-07-21T06:25:09","date_gmt":"2023-07-21T11:25:09","guid":{"rendered":"https:\/\/olduvai.ca\/?p=65531"},"modified":"2023-07-21T06:25:09","modified_gmt":"2023-07-21T11:25:09","slug":"china-snaps-up-record-high-volumes-of-russian-crude-in-the-first-half-of-2023","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=65531","title":{"rendered":"China Snaps Up Record-High Volumes Of Russian Crude In The First Half Of 2023"},"content":{"rendered":"<h3><a href=\"https:\/\/oilprice.com\/Energy\/Energy-General\/China-Snaps-Up-Record-High-Volumes-Of-Russian-Crude-In-The-First-Half-Of-2023.html\">China Snaps Up Record-High Volumes Of Russian Crude In The First Half Of 2023<\/a><\/h3>\n<div id=\"key_points\" class=\"wysiwyg clear\">\n<ul>\n<li>In the first half of 2023, China imported 2.13 million barrels per day of Russian crude oil, making Russia its single biggest supplier.<\/li>\n<li>In June, China once again imported record-breaking levels of Russian crude, a 44% increase compared to the same month in 2022.<\/li>\n<li>Total Chinese oil imports are also soaring, with the country importing the second-highest monthly import figure on record in June.<\/li>\n<\/ul>\n<\/div>\n<div class=\"articleImageContainer\"><picture class=\"singleArticle__articleImage\"><source srcset=\"https:\/\/d32r1sh890xpii.cloudfront.net\/article\/420x175\/2023-07-20_kqcv7ixmda.jpg\" media=\"(max-width: 480px)\" \/><source srcset=\"https:\/\/d32r1sh890xpii.cloudfront.net\/article\/718x300\/2023-07-20_kqcv7ixmda.jpg\" media=\"(min-width: 480px)\" \/><img class=\"singleArticle__articleImage\" title=\"Crude\" alt=\"Crude\" data-src=\"https:\/\/d32r1sh890xpii.cloudfront.net\/article\/718x300\/2023-07-20_kqcv7ixmda.jpg\" \/><\/picture><\/div>\n<div id=\"article-content\" class=\"wysiwyg clear\">\n<p>Despite an apparent weakness in its economy, China is importing record volumes of oil and is buying record amounts of Russian crude to add to stockpiles.<\/p>\n<p>During the first half of 2023, Chinese imports of Russian crude oil averaged 2.13 million barrels per day (bpd), which helped Russia oust its OPEC+ partner Saudi Arabia from the top spot as the single biggest supplier to the world\u2019s top crude importer so far this year, per\u00a0<a href=\"https:\/\/www.ft.com\/content\/dd0a0026-0972-45ed-9e62-1f0ea6c0ec58\" target=\"_blank\" rel=\"noopener\">Financial Times estimates<\/a>\u00a0based on Chinese customs data. Imports from the world\u2019s top crude oil exporter, Saudi Arabia, averaged 1.88 million bpd between January and June, according to FT\u2019s calculations.<\/p>\n<p>In June alone, China broke \u2013 for yet another month \u2013 the record for importing Russian crude oil, per data from the Chinese General Administration of Customs cited by\u00a0<a href=\"https:\/\/www.reuters.com\/article\/china-economy-trade-oil-idUSL1N39607O\" target=\"_blank\" rel=\"noopener\">Reuters<\/a>. Chinese imports from Russia averaged 2.56 million bpd last month, a surge of 44% compared to the same month in 2022, the Chinese customs data showed.<\/p>\n<p>The previous record, of 2.29 million bpd,\u00a0<a href=\"https:\/\/oilprice.com\/Latest-Energy-News\/World-News\/Chinas-Imports-Of-Russian-Crude-Oil-Hit-A-Record-High.html\">was set in May<\/a>\u00a0as Chinese refiners continued to buy discounted Russian oil. The discounts for Russia\u2019s crude narrowed relative to the benchmarks in June, but this didn\u2019t stop China from boosting imports and breaking in June the record from May.<\/p>\n<p>China\u2019s imports from Saudi Arabia also rose in June, compared to May and June last year. But at 1.93 million bpd in June 2023, those imports still trailed behind the record-breaking Chinese crude oil imports from Russia.<\/p>\n<p>\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>China Snaps Up Record-High Volumes Of Russian Crude In The First Half Of 2023 In the first half of 2023, China imported 2.13 million barrels per day of Russian crude oil, making Russia its single biggest supplier. In June, China once again imported record-breaking levels of Russian crude, a 44% increase compared to the same [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[130,184,5332,694,14603],"class_list":["post-65531","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-china","tag-crude-oil","tag-oilprice-com","tag-russia","tag-tsvetana-paraskova"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/65531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=65531"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/65531\/revisions"}],"predecessor-version":[{"id":65532,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/65531\/revisions\/65532"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=65531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=65531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=65531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}