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China Increase Russian Urals Purchases In April

OIL

China's increased purchases of Russian Urals loading in April. Imports to China loading from Russia's Baltic and Black Sea ports could reach an 11-month high according to Refinitiv data and sources.

  • China has purchased 265kbpd of Urals oil loading from Primorsk, Ust-Luga and Novorossiisk so far in April, up from 195k bpd loading in March.
  • Oil loadings from Russia's western ports are expected to rise to the highest since 2019 in April to above 10m tonnes (2.4mbpd) up from 9.7m tonnes in March which is a day longer.

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