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China May oil imports from Russia soar to a record, Imports from Malaysia doubles

The Star Business LogoThe Star Business1 mo ago

China May oil imports from Russia soar to a record, Imports from Malaysia doubles

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SINGAPORE: China's crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine.

The data, which shows that Russia took back the top ranking of suppliers to the world's biggest crude oil importer after a gap of 19 months, indicates that Moscow is able to find buyers for its oil despite western sanctions, though it has had to slash prices.

China's overall crude oil imports rose nearly 12% in May from a low base a year earlier to 10.8 million bpd, versus the 2021 average of 10.3 million bpd.


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Article Details

Author / Journalist: The Star Online

Category: Economy

Topics: Saudi Energy Imports Malaysia ASEAN Russia Oil China /Business/Business News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-21, 00:07:00

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Reading Time: 4 minutes read

Article Length: 560 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 1398

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About The Star Business

The Star Business Logo

Main Topics: Economy

Official Website: thestar.com.my

Update Frequency: 34 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 14h ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #22

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