Posted on 06/20/2022 8:49:06 AM PDT by SmokingJoe
China imported a record volume of Russian crude in May, with arrivals surging by 55 percent to nearly 2 million barrels per day (bpd). This has made Russia the top oil supplier to the world's leading crude importer—putting it ahead of Saudi Arabia for the first time in a year and a half. A record volume of cheap Russian oil, which sells at steep discounts to crude from other countries, made its way to Chinese refiners last month, according to figures from China's General Administration of Customs cited by Reuters.
China imported 1.98 million bpd of Russian crude oil in May, up by 55 percent from May last year and up from 1.59 million bpd of Russian oil imported in April 2022, the data showed.
The high purchases of Russian oil outstripped supply from Saudi Arabia, Russia's partner in the OPEC+ deal. Chinese imports of Saudi crude averaged 1.84 million bpd in May, up by 9 percent compared to May 2021, but down from 2.17 million bpd imported in April, according to the data cited by Reuters.
Thanks to the increased shipments of cheap crude to China, Russia became the top supplier to the world's biggest oil importer for the first time in 19 months, per Reuters estimates.
(Excerpt) Read more at oilprice.com ...
So Joe is now going to do what??? Chew out Saudi Arabia for letting this happen?
Well he is supposed to be visiting Saudi Arabia soon.
The Saudi’s may tell him what they think of any such suggestion.
Everything Biden touches turns to schiff. Is there one policy that has actually worked? Apparently Democrats, many Republicans and all too many Freepers that want to support Ukraine in a war where we have no national interest lack the ability to see 2nd and 3rd order consequences. All those sanctions on Russia are making the oligarchs that so many hate filthy rich. The sanctions are literally funding Russia’s war efforts.
What an extraordinary development, nothing like this has happened since... 2020!
“Chew out Saudi Arabia for letting this happen?”
He is going to lecture the Saudis about how evil they are for failing to adopt the pervert agenda....
Murder is OK though.
Maybe the US State Dept. can throw sanctions on the whole world. Kick everybody off of the super vital “SWIFT” system.
But it will probably continue this time for the foreseeable future due to western sanctions driving China to Russia.
Sanctions are driving down the price of Russian crude, so the Chinese are getting a deal. Of course they’ll keep buying!
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