Russia was ahead of Saudi Arabia in the race to be China’s top crude oil supplier in October, according to official Chinese data reported by Reuters. Yet, Chinese imports from both Russia and Saudi Arabia declined year over year in October as crude imports in the world’s top oil importer slowed down markedly last month from the previous months. Chinese crude oil imports in October were 10 million bpd, down by 12.2 percent from September, due to independent refiners using up 2020 import quotas and storage nearing capacity. …
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