China’s imports of crude oil from Russia fell 1% in June from a year earlier to 8.35 million metric tons or 2.03 million barrels per day, Chinese customs data showed on Sunday.

Imports from Malaysia, the biggest trans-shipment hub for sanctioned Iranian oil, reached 7.09 million tons in June, or 1.72 million bpd, up 40% from May, also up 20% year-on-year.

Imports from Saudi Arabia, the second-largest supplier to China in June, were up 16% year-on-year in June, at 7.9 million tons or 1.92 million bpd.

The sharp OSP (official selling price) cut by Saudi Arabia from April onwards led to higher imports from Saudi Arabia.

Customs recorded no imports from Iran and Venezuela in June.

China’s total crude oil imports reached 49.89 million tons in June, or 12.14 million barrels per day, reflecting a rise from May and a 7.4% increase compared to the previous year as the state-owned refiners increased their operations and achieved better profits.
Source: Reuters