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The agency reported that the amount of Russian oil sent to Chinese ports rose to 2.09 million barrels each day during the first 18 days of February. In January, approximately 1.72 million barrels of oil were shipped to Chinese ports each day, whereas the figure was 1.39 million barrels in December.
According to Bloomberg, this rise made up for the decrease in shipments from India. The agency writes that Russian oil shipments to India have stayed at a rate of 1.2 million barrels per day in the past few months. In November, the figure was 1.78 million, and by June, it had increased to 2 million barrels.
Bloomberg reports that Urals crude oil is transported to China via ports located on the Baltic Sea and the Black Sea, as well as from the Arctic region. In December, China's imports of Urals crude oil reached 600,000 barrels per day, marking the highest level observed since 2018. According to the agency, Chinese refineries are very interested in purchasing this type of oil because they are getting substantial price reductions.
However, the process of redirecting oil supplies is encountering logistical difficulties, as delivering the oil to China is taking significantly more time. According to Bloomberg, this is because the oil is transported over a greater distance and there are delays involved in unloading it. Some tankers were kept in the ocean for several weeks.
source: bloomberg.com
According to Bloomberg, this rise made up for the decrease in shipments from India. The agency writes that Russian oil shipments to India have stayed at a rate of 1.2 million barrels per day in the past few months. In November, the figure was 1.78 million, and by June, it had increased to 2 million barrels.
Bloomberg reports that Urals crude oil is transported to China via ports located on the Baltic Sea and the Black Sea, as well as from the Arctic region. In December, China's imports of Urals crude oil reached 600,000 barrels per day, marking the highest level observed since 2018. According to the agency, Chinese refineries are very interested in purchasing this type of oil because they are getting substantial price reductions.
However, the process of redirecting oil supplies is encountering logistical difficulties, as delivering the oil to China is taking significantly more time. According to Bloomberg, this is because the oil is transported over a greater distance and there are delays involved in unloading it. Some tankers were kept in the ocean for several weeks.
source: bloomberg.com