Chinese government data confirmed today that Russia surpassed Saudi Arabia to become the largest supplier of oil to China in the first two months of 2023, as buyers took the opportunity to purchase Russian crude oil, which is under sanctions, at significant discounts.
According to data from the General Administration of Customs, total oil shipments from Russia amounted to 15.68 million tons in January and February, or 1.94 million barrels per day, marking an increase of 23.8%, up from 1.57 million barrels per day during the same period in 2022.
Total crude oil imports from Saudi Arabia in the first two months of the year reached 13.92 million tons.
