China Is Importing Less Iranian Crude As It Buys More Russian Barrels

Russian crude oil imports into China have reduced the country’s intake of Iranian crude, Hellenic Shipping News reported, citing data from shipbroker Xclusiv. According to the data, increased Chinese appetite for discount Russian crude has led to a sharp increase in Russian imports but these have increased at the expense of Iranian oil cargos.

Xclusive noted that this month demand for all crude from Chinese refineries might decline due to some of them entering scheduled maintenance. Reuters meanwhile reported earlier that Chinese refiners…