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Russia Sends Crude Vessel To China Via Arctic Circle

OIL

Russia has sent a second crude oil shipment east through the Arctic Circle toward China, Bloomberg data show.

  • The vessel is due to arrive at the Chinese port of Rizhao on 17 November.
  • The vessel loaded crude in October from a storage tanker moored at Murmansk.
  • Depending on weather conditions, the route is the fastest way to ship crude to China, however, “it looks unlikely that any significant volumes could be shipped along this route until summer”, Richard Matthews, head of research at E.A. Gibson Shipbrokers said to Bloomberg.
  • China remained the largest importer of Russian crude oil. Chinese imports of Russian crude stood at 904kbpd in October, compared with 918kbpd in September.
Energy BulletsCommodities
Energy BulletsCommodities

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