China ramps up fuel oil imports blended from Russian crude – media ...News

Sanctions against Russian petroleum products are pushing supplies away from Europe and towards Asia Chinese independent refineries are currently boosting purchases of discounted fuel oil blended from Russian barrels, Reuters reports on Friday, citing the latest data along with trade sources. Sanctions imposed by the EU and the Group of Seven on Russian crude, including the looming embargo and price cap on refined products that comes into force on February 5, have sent the barrels running away eastward at deep discounts. Meanwhile, a shortage of government crude oil import quotas are forcing China’s independent ref

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