China Increases Russian Oil Imports, Displacing Indian Purchases

Source Summary

China's seaborne imports of Russian crude oil reached an estimated 1.25 million barrels per day in August, down from 1.423 million bpd in July, according to Kpler data. China is increasing purchases of Russian oil to compensate for reduced Iranian oil imports caused by Middle East conflict and U.S. sanctions, displacing some Russian barrels that previously went to India.