Russia remains China’s leading oil supplier in July
Russia now ranks as China's largest supplier of crude oil in July, with a 10% year-over-year increase, reaching 9.15 million tons (approximately 2.16 million barrels per day), despite China's overall imports declining by 24.3% year-over-year. This market shift comes amid disruptions in Middle Eastern supplies, and the data reassure that China is working to diversify its sources, with imports from Brazil rising by 31.9% and those from Indonesia increasing by 51.8%, while shipments from Malaysia have decreased significantly. The data indicate China's efforts to compensate for the decline in Middle Eastern supplies and to diversify its oil sources, despite the absence of direct imports from Iran, though indirect flows are present.
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