Russia surpassed Saudi Arabia as China’s biggest oil supplier with refiners taking advantage of cheap barrels to feed rebounding demand in Asia’s biggest economy following the end of Covid Zero, according to Bloomberg.
The Asian nation imported 7.69 million tons of crude from Russia last month, or 2 million barrels a day, according to Chinese customs data. Flows from Saudi Arabia slipped to the lowest level since June, down 29% from January.
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