Oil imports to China fell by 16.1% in July – Kommersant
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In July, China reduced the volume of imported oil by 16.1% compared to June. In total, over the past month, oil supplies to China amounted to 43.69 million tons, according to the data of the General Administration of Customs of China. The cost of purchased raw materials amounted to $23.9 billion.
According to statistics, in average daily terms, the volume of oil supplies to China in July turned out to be the lowest since January of this year – 1.409 million tons per day, with a barrel coefficient of 7.3-10.287 million bpd. However, in May and June, the volume of oil imports approached a record value of 12.114 million and 12.668 million b/d, respectively.
In total, from the beginning of January to the end of July, oil imports to China amounted to 325.75 million tons, which is 12.4% more than last year. At the same time, the value in monetary terms decreased to $187.3 billion (-12.3%).
China and India, according to the report of the International Energy Agency, after the introduction of international sanctions are the world’s largest consumers of Russian oil. These two countries import about 80% of their oil from Russia. These volumes provide 45% of Chinese imports and 20% of Indian ones. However, in June, according to S&P Global Commodities at Sea, deliveries from Russia to India fell by 300 thousand barrels per day. The reduction in exports to China turned out to be half as much – about 150 thousand barrels per day.
More details – in the material “Kommersant” “Oil exports have become more modest”.
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