Russia is the largest supplier of China of crude oil for the 12th consecutive month in April, with delivery volumes increasing by 30 percent compared to April of last year, according to data released on Monday by the Chinese General Administration of Customs.
Chinese imports of crude oil from Russia, which include supply via pipeline or maritime routes, amounted to 9.26 million metric tons in April, or 2.25 million barrels per day (bpd), the data shows.
Compared to March, the volume of Chinese imports from Russia decreased by 11.8 percent. It is also lower than the record imports from June 2023 of 2.56 million barrels per day, down by 12.1 percent.
Chinese imports from Russia have increased by 17 percent since the beginning of this year compared to the same period last year, reaching 37.79 million tons or approximately 2.28 million barrels per day, accounting for 21 percent of the total imports of the world’s largest crude oil importer.
According to customs data, imports from Saudi Arabia, which was the largest supplier to China in April last year, decreased by a quarter compared to the same period last year, to 6.34 million tons, or 1.54 million barrels per day, amid higher prices. The Kingdom raised the April selling price of oil to Asia to $1.70 per barrel, up from $1.50.
Imports from Malaysia, a key transshipment hub for oil from Iran and Venezuela and the fourth largest source of imports, remained largely stable year-on-year at around 980,000 barrels per day.
The latest customs data also showed that China imported 0.19 million tons of oil from Venezuela, bringing the total volume of its imports since the beginning of the year to 0.92 million tons, or 55,000 barrels per day, influenced by the temporary easing of U.S. sanctions on Caracas.
