2024-03-19 20:58:45
China’s purchases of Russian premium Sokol oil may reach a record high in March against the backdrop of India’s actions, which sharply reduced its purchase volumes due to fear of US sanctions, follows from an assessment by Kpler, cited by Bloomberg, Day.Az reports with reference to Lenta.ru.
Analysts predicted China’s readiness to purchase about 1.7 million barrels of oil daily from the Russian Federation, 379 thousand of which will come from Sokol. As the publication says, it is not yet clear whether all cargoes with these hydrocarbons will reach real buyers or will be sent to customs storage due to banks wary of possible American restrictions.
It has been reported since the beginning of 2024 that China has begun to more actively purchase Russian oil. As the media wrote, the country’s oil refineries in February tripled, to 168 thousand barrels per day against the previous 53 thousand, the use of Far Eastern Sokol oil.
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