Despite higher oil prices and narrower discounts of Russian crudes to international benchmarks, Russia remained the single largest crude oil supplier to China in July, ahead of its OPEC+ partner Saudi Arabia, according to Chinese customs data. Chinese imports of crude from Russia averaged 1.9 million barrels per day (bpd) last month, a 13% increase compared to July 2022, although arrivals from Russia were lower than the record-high hit in June, per the data released by China’s General Administration of Customs on Sunday and reported by Reuters.…
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