India have overtook china as the top importer for seaborne Russian crude oil this month. The overall Russian crude oil imports to India are set to exceed 1 million barrels a day in july.
China's import of seaborne Russian crude oil is likely to be below India in july. China and India continue to haul in Russian crude from the seaborne market. This will be the first time Indian impprts have exceeded those from china.
Russian crude going to China on ships has been 300,000 b/d this month. China recieves more of the Russian ESPO blend crude favoured by its independent refiners. China also buys ESPO blend under a long term contract via dedicated pipelines.
The share of pipelines used to be over one-third before the Russia Ukraine war and much of it went to Europe.Russia has emerged as one of India's top 3 crude oil suppliers since late february. UAE oip supplies to India more than halved in May from April to 387,000 b/d as Russian shipments doubled.
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