Russia’s seaborne oil exports to China hit record – IEA

Russia increased its seaborne oil exports to China by 290,000 barrels per day in January from December levels, reaching a record 1.7 million barrels per day, the International Energy Agency (IEA) said in its monthly market report.

The rise in shipments to China helped offset lower exports to India. According to the IEA, Russian exports to India fell by 100,000 barrels per day in January to 1.1 million barrels per day, the lowest level since November 2022.

Exports of Urals crude rose by 250,000 barrels per day to 500,000 barrels per day, marking a record high for the grade.

Data from China’s General Administration of Customs show that Russia, Saudi Arabia, Malaysia, Iraq and Brazil are among China’s main oil suppliers.