Oil supplies from Russia to China collapsed 15.3 percent in April of this year. It is reported by “Prime”.
Exports of raw materials from Saudi Arabia to China was 6.47 million tons against 7.84 million tons a month earlier (minus 17.5 percent), from Russia – 6.3 million tons against 7.44 million tons. In third place was Iraq with an indicator of 4.45 million tons against March 3.62 million tons (plus 22.9 percent).
In the first four months of this year, the PRC reduced the purchases of Russian oil by 2.14 percent in annual terms. In 2020, China imported more than 83.4 million tons of raw materials from Russia by $ 27.6 billion.
China is the main global oil importer. For Beijing, a sufficient level of reserves is crucial to preserve the stability of the economy during periods of foreign policy shocks affecting supply and prices. The International Energy Agency (MEA) recommends that countries have in their refinery the volume of fuel, sufficient to cover at least 90 days of pure import.