Russian Oil Imports to China Increased by 25.6% in August – Kommersant
In August, China increased its oil imports from Russia by 25.6% month-on-month, to 9.37 million tons. This was reported by TASS citing data from the General Administration of Customs of the People's Republic of China.
In monetary terms, the figure grew by 20.6%, to $5.38 billion. For the period from January to August, Russian oil supplies increased by 1% year-on-year, to 71.94 million tons, and by 10.8%, to $42.8 billion, in value terms.
Russia continues to lead among countries supplying oil to China. Second place goes to Saudi Arabia, whose supplies over eight months fell by 13.4%, to 52.08 million tons. Third place goes to Malaysia, whose oil exports to China grew by 22.8%, to 43.17 million tons.
According to the International Energy Agency, China has seen a fourth consecutive month of falling oil demand, which is holding back global consumption growth and putting pressure on prices. Russia's revenues from oil and oil product exports in August were at the level of July 2023, with both supply volumes and prices declining.
Details in the Kommersant article "Oil is losing demand".
