AsianOil: July sees India move past China on Russian oil-import rankings

Recent reports point to India having moved past China to become the largest buyer of Russian oil. An August 22 Reuters report revealed that Russian crude exports to India in July reached an unprecedented 2.07mn barrels per day, surpassing the 1.76mn bpd exported to China. 

This represents a 12% increase in India's imports of Russian crude compared to the previous year, while China, typically the world’s largest crude oil importer, saw a 7.4% decline in its own imports over the same period. 

The decline in China's imports has been attributed to weakening processing margins among refineries coupled to a diminished demand for fuel.

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