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The Russian Federation has increased the oil export to China by 50%

The Russian Federation has increased the oil export to China by 50%

The Russian Federation has increased the oil export to China by 50%
September 22
15:00 2016

Last month the Chinese oil import from the Russian Federation increased by 50.2% yoy and amounted to 4.64 million tons. The information from the Chinese General Administration of Customs says about this. Accordingly, Russia became the largest exporter of the raw material in China in August.

The increase in relation to July was equal to 43.7%. Exports have increased after a 2-month fall. Last May the supplies nearly approached the unprecedented figure of 5.245 million tons.

Saudi Arabia is the second largest supplier. China has bought from it 4.364 million tones, which is 8.4% more than in July; in comparison with August 2015 it is 12% more. Exports to China from the Saudi Kingdom have decreased by 11.9% to 4.025 million tons over the month. The volume has fallen by 4.2% in relation to July 2015.

In addition, Oman is proved to be among the leaders. It should be noted that it was walking behind before this. The country has exported 3.556 million tons to China. Angola has become a leader of July. The country reduced the amount of oil supplied to China almost three times in comparison with the previous month. Deliveries have amounted to 3.268 million tons.

Last month China increased abroad purchases by 5.7% comparing to the previous month; also by 23.5% in annual terms up to a maximum figure for four months – 32.85 million tons of crude oil. It is about 7.77 million barrels per day.

During the first half of 2016 the Saudi Kingdom has sold to China 34.85 million tons of oil. This is 1% more than the amount of the same time period in 2015. Russian imports have soared by 30% and amounted to 34.14 million tons, imports from Angola have risen by 14.6% to 30.21 million tons.

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