China Reduces Russian Oil Imports to 21% Share in January Amid Shifting Energy Supplies
• 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%. • 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. • 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