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Russian crude supplies to China surge

Oil

China's imports of Russian crude oil in September increased by 294K b/d (42%) y-o-y and 258K b/d m-o-m to a record high of 988K b/d, data from China's General Administration of Customs shows. This marks the second time that Russia has been China's largest monthly crude supplier, after the country first achieved that placing in May 2015. Imports from the Middle East were up 328K b/d m-o-m but down 145K b/d y-o-y to 3.6M b/d. Imports from West Africa dropped by 109K b/d m-o-m and 95K b/d y-o-y to a three-month low of 1M b/d. Imports from the Caribbean and Latin America increased by 213K b/d m-o-m and 56K b/d y-o-y to 827K b/d.