China’s crude imports from Russia fall to nine-month low in February

Oil

China’s crude oil imports from Russia declined by 300K b/d m-o-m and 500K b/d y-o-y to 1.42M b/d in February, falling to the lowest level since May 2021 after previously reaching a 10-month high in January, China customs data showed. Supplies from the Middle East tumbled by 1.19M b/d m-o-m and 500K b/d y-o-y to 5.3M b/d, with arrivals from North America also falling by 230K b/d m-o-m to 150K b/d. Imports from the Caribbean increased by 100K b/d m-o-m to 200K b/d however, rising after falling to a 14-month low in January.