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In August, Russia Became China’s Largest Oil Supplier

Well-known Chinese news site Sina recently reported that, according to data provided by Chinese Customs, in August, Russia replaced Angola to become China’s largest oil supplier. China increased oil imports mainly due to the stocking needs of China’s independent oil refiners. In August, the volume that Russia supplied increased by 50.2 percent, month-over-month. Angola was the largest supplier in July and Saudi Arabia used to hold the top seat. Statistics also showed that, in the first eight months, China’s total import volume from Russia increased by 30 percent, year-over-year. So far, Saudi Arabia is still China’s largest overall oil supplier, However, as of now, China’s imports from Saudi Arabia this year only saw a one percent increase, year-over-year. Currently Saudi Arabia’s supply level to China is 997,520 barrels per day, and Russia’s daily level is 977,330 barrels.

Source: Sina, September 22, 2016