Russia’s crude oil exports to China in May fell to a seven-month low, official data showed on Thursday.
Supply via pipelines and ships totaled 8.91 million metric tons last month, or 2.10 million barrels per day (bpd), the General Administration of Customs data showed.
That was the lowest level since October, down 8.2% from May last year.
Russia in May cut its crude supply to 9.22 million bpd from 9.3 in April, according to the IEA’s monthly oil market report.
The U.S. also warned last month that it, along with its partners, was prepared to use sanctions and export controls to prevent China-Russia trade that threatens their security amid the Ukraine war.
China’s May oil imports from Saudi Arabia, its number two supplier, rose 1.6% yearly to 7.44 million tons.
Imports from Malaysia, a key transhipment hub for oil from Iran and Venezuela, rose 2.9% to 1.38 million bpd, making it China’s third-largest supplier in May.
The data also showed imports of 0.28 million tons from Venezuela, bringing its year-to-date total to 1.2 million tons.
Venezuela in May shipped 30% more oil abroad as customers rushed to take cargoes ahead of a resumption of U.S. sanctions.
No imports from Iran were recorded.
Source: Hellenic Shipping News
