China increases purchases of Russian oil, replacing the Indian market
Chinese oil refineries are boosting their purchases of Russian oil, which India is rejecting due to political pressure from Donald Trump. In the first 18 days of February, Russian oil supplies to Chinese ports rose to 2.09 million barrels per day, more than offsetting the decline in imports from India.
This shift to the Chinese market affects all export grades of Russian oil, indicating a significant change in the global trade routes of oil products. At the same time, India is reducing its imports under U.S. pressure, impacting the worldwide distribution of Russian energy resources.
It is likely that China will continue to strengthen its position as the main buyer of Russian oil, which may influence the energy market balance in the near future.
