China Reduces Russian Oil Imports to 21% Share in January Amid Shifting Energy Supplies
β’ China imported about 1.1 million barrels per day of Russian crude in January, with Moscow's share of total oil imports declining to 21%. β’ This reduction aligns with broader trends where China has quietly slashed overall oil imports by roughly a quarter from pre-war levels to around 8.2 million barrels per day, according to Vortexa data. β’ The cuts have rebalanced the global oil market by freeing up supply, keeping benchmarks near US$100 per barrel despite over 60 days of Persian Gulf conflict.
asiafinancial.com
