CHINA’S IMPORTS OF RUSSIAN OIL HIT RECORD HIGH LAST YEAR!
China’s imports of Russian oil reached a record high in 2024, rising by 1% compared to 2023.
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The increase is due to high demand from refineries, state-owned oil companies, and a government plan to store more oil.
Overall, China’s total oil imports fell by 1.9% last year, the first drop outside of the COVID-19 pandemic effects.
The decline was caused by slower economic growth and reduced fuel demand.
