[TheOracleAtLilac]

No source - just common sense.

The U.S. can't afford $70/bbl oil - how can backwater China ?

China has "investments" in many countries which maybe bartered for oil &/or it's entirely possible that China purchased futures a while back.

[M. Dodge Thomas]

China does get a break on price as it uses a higher percentage of higher sulpher "sour" oil, and that spread has been getting larger

overall, this might amount to a few dollars per barrel over their entire consumption, otherwise, they appear to be paying about what everyone else does.

The U.S. can't afford $70/bbl oil - how can backwater China ?

Chinese energy imports were around 50 billion last year. Do you suppose their 202 billion dollar trade surplus with the US might have helped finance them?