Russia Overtakes Saudi Arabia As China's Top Oil Supplier
Authored by Tsvetana Paraskova via OilPrice.com,
Chinese imports of Russian crude surged by 55 percent in May as the world’s biggest importer of oil took advantage of major discounts.
Russia has now overtaken Saudi Arabia as China’s top oil supplier.
While Russia is sending lots more crude to Asia, it is unlikely that the Asian market can absorb all 4 million barrels that were going to Europe.
China imported a...