Russia emerged as top crude exporter to China in 2023 – JLC

Russia exported 107 million mt of crude oil to China in 2023, an increase of 24% on the year, market intelligence provider JLC reported citing data from China’s General Administration of Customs (GACC).

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Russia replaced Saudi Arabia to become China's biggest crude oil supplier in 2023, “as discounted grades from the former attracted more interest from Chinese buyers,” JLC reported.

Meanwhile, Saudi Arabia exported nearly 86 million mt of crude oil to China in 2023, down by 2% on the year, JLC reported. Iraq was the third-largest crude supplier to China (59 million mt) in 2023.

In 2023, China's total crude imports reached 564 million mt (11.28 million b/d), marking an 11% increase from 2022, as per GACC data.

Russia's robust energy partnership with China and India

Russian crude shipments to China in 2023 hit $60.6 billion, an increase of 3.5% from 2022, Russia’s state-owned media agency TASS reported.

Nearly all of the Russian oil and petroleum exports in 2023 departed for its "major partners" China and India, Russian Deputy Prime Minister Alexander Novak said earlier.

China expressed willingness to increase trade with Russia, TASS reported citing Chinese vice-premier Ding Xuexiang at the 20th meeting of the Intergovernmental Russian-Chinese Commission on Investment Cooperation in December 2023.

By Aparupa Mazumder 

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