Indian state-run refiners, including Indian Oil Corporation and Bharat Petroleum Corporation Limited (BPCL), have resumed purchasing discounted Russian crude oil for September and October deliveries after a brief pause. This resumption comes despite increased tariffs imposed by the United States and criticism from the Trump administration. Russian officials remain confident that India will continue buying Russian oil, citing a roughly 5% discount that makes the crude economically attractive. Meanwhile, Chinese refiners have increased their purchases of Russian oil, capitalizing on the decline in Indian demand following the U.S. tariffs. Russia is also seeking trilateral talks with China and India to strengthen cooperation amid mounting U.S. pressure. Additionally, Indian refiner Nayara Energy, which is backed by Russia and subject to European Union sanctions, is reportedly using a dark fleet to import oil and transport refined fuels. Chinese crude imports remained robust in July, with Russian shipments increasing to 8.71 million tons from 8.35 million tons in June, while imports from the U.S. remained suspended. Saudi Arabia's crude exports were slightly lower in June compared to May, but overall crude and refined product exports increased. The developments highlight ongoing shifts in global oil trade dynamics as countries navigate sanctions, tariffs, and geopolitical tensions.
#China: crude imports from #Russia and #SaudiArabia in mbpd - customs office data #oott https://t.co/jzXvuanUML
#China: crude imports by origin in million tons July vs June (full month, July 31 days, June 30 days) Russia 8.71 vs 8.35 Saudi Arabia 7.47 vs 7.90 Malaysia 4.22 vs 7.09 Iraq 4.89 vs 5.16 Brazil 3.78 vs 3.89 Iran 0 vs 0 Venezuela 0 vs 0 USA 0 vs 0 customs office #OOTT
#China’s crude oil imports remained robust in July, fuelled by higher Russian shipments, while China’s purchases from the US remained suspended for a second straight month. The latest customs data shows that the volume of inbound crude oil reached 47.2 million tonnes in July, up