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Russia Remained Top Crude Supplier to China in November

OIL

Russia remained China’s top crude oil supplier in November with flows to China at 2.19mbpd, up by 9% from October levels and 15.2% higher on the year according to data from the General Administration of Customs.

  • Saudi Arabia exported 1.61mbpd of crude oil to China last month, down by 0.2% year on year.
  • Imports from Malaysia – a trans-shipments point for sanctioned barrels from Iran and Venezuela, fell to on the month to 950kbpd but remained 66.5% above last year’s levels.
  • China’s total crude oil imports last month saw the first year on year decline since April amid slowing orders from independent refiners and high inventory levels.

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