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CHINA'S IMPORTS OF RUSSIAN OIL HIT RECORD HIGH LAST YEAR

Tina Collins

Tina Collins

— 1 min read
CHINA'S IMPORTS OF RUSSIAN OIL HIT RECORD HIGH LAST YEAR
CHINA'S IMPORTS OF RUSSIAN OIL HIT RECORD HIGH LAST YEAR

CHINA'S IMPORTS OF RUSSIAN OIL HIT RECORD HIGH LAST YEAR

China’s imports of Russian crude oil rose by 1% in 2024, reaching a record 2.17 million barrels per day.

This increase was driven by strong demand from refineries, state-owned oil companies, and a government mandate to store more oil.

China’s overall crude oil imports fell by 1.9% last year, the first decline outside the COVID-19 pandemic effects.

The decline in total imports was due to slower economic growth and peak fuel demand.

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