China's imports of US oil have hit an 18-month high as it pivots away from Russian crude

[dbc]

China's imports of US oil rose to their highest level in 18 months in July as the country turned away from Russian crude, according to Vortexa. The commodities data company said ships in the US had loaded around 330,000 barrels a day of oil bound for China in July, compared with just 60,000 barrels a day in the previous two months. The cargoes were destined for refineries owned by state oil giant Sinopec, which is stocking up on crude oil in the expectations that demand will increase in the fall. Yet at the same time, China cut back on imports from Russia, according to Vortexa. Sinopec took only three cargoes from the Russian far east in July, after loading up around 14 in both May and June. China's imports of US oil have hit an 18-month high as it pivots away from Russian crude Chinese state oil giant Sinopec has ramped up its purchases of US oil as it bets domestic demand will rise again in the fall. markets.businessinsider.com

It appears China's "no limits" friendship with Russia has some limits after all.

https://www.washingtonpost.com/opinions/2022/03/18/russia-china-said-their-friendship-had-no-limits-its-up-united-states-impose-some/

 

[Beast]

China's imports of US oil rose to their highest level in 18 months in July as the country turned away from Russian crude, according to Vortexa. The commodities data company said ships in the US had loaded around 330,000 barrels a day of oil bound for China in July, compared with just 60,000 barrels a day in the previous two months. The cargoes were destined for refineries owned by state oil giant Sinopec, which is stocking up on crude oil in the expectations that demand will increase in the fall. Yet at the same time, China cut back on imports from Russia, according to Vortexa. Sinopec took only three cargoes from the Russian far east in July, after loading up around 14 in both May and June. China's imports of US oil have hit an 18-month high as it pivots away from Russian crude Chinese state oil giant Sinopec has ramped up its purchases of US oil as it bets domestic demand will rise again in the fall. markets.businessinsider.com

It appears China's "no limits" friendship with Russia has some limits after all.

https://www.washingtonpost.com/opinions/2022/03/18/russia-china-said-their-friendship-had-no-limits-its-up-united-states-impose-some/

I heard US are selling oil to China at prices even below Russia offer. Why not since US is so desperate.

Such low price is exclusive offer to China only while India can only buy from Russia.

 

[dbc]

I heard US are selling oil to China at prices even below Russia offer. Why not since US is so desperate.

Such low price is exclusive offer to China only while India can only buy from Russia.

The US doesn't sell anything to China, these are privately held American businesses that make independent commercial decisions.

 

[huanghong]

China's imports of US oil rose to their highest level in 18 months in July as the country turned away from Russian crude, according to Vortexa. The commodities data company said ships in the US had loaded around 330,000 barrels a day of oil bound for China in July, compared with just 60,000 barrels a day in the previous two months. The cargoes were destined for refineries owned by state oil giant Sinopec, which is stocking up on crude oil in the expectations that demand will increase in the fall. Yet at the same time, China cut back on imports from Russia, according to Vortexa. Sinopec took only three cargoes from the Russian far east in July, after loading up around 14 in both May and June. China's imports of US oil have hit an 18-month high as it pivots away from Russian crude Chinese state oil giant Sinopec has ramped up its purchases of US oil as it bets domestic demand will rise again in the fall. markets.businessinsider.com

It appears China's "no limits" friendship with Russia has some limits after all.

https://www.washingtonpost.com/opinions/2022/03/18/russia-china-said-their-friendship-had-no-limits-its-up-united-states-impose-some/

According to Vortexa, China imported 1.1 million barrels a day of Russian oil in July, a small figure compared to 330,000 barrels per day in the United States.

India set to import more Russian crude in July than China | TradeWinds

Despite Western sanctions, refiners are taking advantage of cheaper oil

www.tradewindsnews.com

 

[大汉奸柳传志]

what a stupid thread.. it's a market decision by Sinopec, China didn't put any sanctions on US oil as far as I can remember.

Speaking of sanctions tho,I just saw this earlier, which makes America looking extra stupid today, lol.

https://www.rt.com/business/560999-japan-resumes-russian-oil-imports/

 

[dbc]

what a stupid thread.. it's a market decision by Sinopec, China didn't put any sanctions on US oil as far as I can remember.

Speaking of sanctions tho,I just saw this earlier, which makes America looking extra stupid today, lol.

https://www.rt.com/business/560999-japan-resumes-russian-oil-imports/

all that is fine and dandy but what happened to "no limits friendship"

and the US hasn't sanctioned Russian oil, just the use of US Dollars for oil and gas purchase so Japan is free to buy it.

 

[doorstar]

China's imports of US oil rose to their highest level in 18 months in July as the country turned away from Russian crude, according to Vortexa. The commodities data company said ships in the US had loaded around 330,000 barrels a day of oil bound for China in July, compared with just 60,000 barrels a day in the previous two months. The cargoes were destined for refineries owned by state oil giant Sinopec, which is stocking up on crude oil in the expectations that demand will increase in the fall. Yet at the same time, China cut back on imports from Russia, according to Vortexa. Sinopec took only three cargoes from the Russian far east in July, after loading up around 14 in both May and June. China's imports of US oil have hit an 18-month high as it pivots away from Russian crude Chinese state oil giant Sinopec has ramped up its purchases of US oil as it bets domestic demand will rise again in the fall. markets.businessinsider.com

It appears China's "no limits" friendship with Russia has some limits after all.

https://www.washingtonpost.com/opinions/2022/03/18/russia-china-said-their-friendship-had-no-limits-its-up-united-states-impose-some/

Chinese seem to be doing their utmost to comply with (implied) anti-Russia sanctions. these here PDFers and net-warriors have no comment except fanciful excuses yet the same low-life characters want Pakistan to defy NATO by siding with Russia (and buying its oil without even having the infrastructure to process it) and not selling anything to Ukraine.

they and moron e ahzam give the example of bharat saying that it is defiant and independent which is not true. bharat is not defying NATO, it is amreeka that is making allowances and giving exceptions in the hope of using it as cannon fodder against China in the near future.

it is another matter that it will fail in doing so it does not know indians very well. it is against their religion to fight for others, they are commanded by chanakya to trick others to fight for them

 

[dbc]

Chinese seem to be doing their utmost to comply with (implied) anti-Russia sanctions. these here PDFers and net-warriors have no comment except fanciful excuses yet the same low-life characters want Pakistan to defy NATO by siding with Russia (and buying its oil without even having the infrastructure to process it) and not selling anything to Ukraine.

they and moron e ahzam give the example of bharat saying that it is defiant and independent which is not true. bharat is not defying NATO, it is amreeka that is making allowances and giving exceptions in the hope of using it as cannon fodder against chine in the near future.

it is another matter that it will fail in doing so it does not know indians very well. it is against their religion to fight for others, they are commanded by chanakya to trick others to fight for them

with China it's important to pay attention to what they do - not what they say.
Billions of dollars of investment MOUs signed with Iran and Russia but none of it has materialized. In the case of Ukraine and Russia conflict, I suspect China is privately upset with Putin for starting a conflict he has no hope of winning. The Chinese don't like associating themselves with losers, plus Putin's recklessness had the unintended consequence of unifying the West. Something the Chinese spent many years trying to erode. As for India, Indian imports of Russian crude isn't an issue. Russia is literally giving away its oil to India, the more oil Russia sells to India the less the Russians get back in oil revenue. We are more than happy for Russia to dump its oil into India at heavily discounted prices. The Chinese fully expect Russian oil production to fall off a cliff, already analyst predict a 16% decline in output this year. Russian output will progressively decline unless Russia is able to regain access to Western technology and funding.

The Chinese aren't willing to burn their bridges with their traditional suppliers and so they limit their exposure to Russia. The Indians, have decided short term gains merit the cost of alienating their traditional suppliers in the middle east. But once Russian oil starts to disappear from the market, middle eastern suppliers will not revert back to the favourable terms India enjoyed prior to the Ukraine special military operation.

 

[FairAndUnbiased]

Buying US oil when US gas prices are already sky high is a loss?

 

[Zsari]

China's imports of US oil rose to their highest level in 18 months in July as the country turned away from Russian crude, according to Vortexa. The commodities data company said ships in the US had loaded around 330,000 barrels a day of oil bound for China in July, compared with just 60,000 barrels a day in the previous two months. The cargoes were destined for refineries owned by state oil giant Sinopec, which is stocking up on crude oil in the expectations that demand will increase in the fall. Yet at the same time, China cut back on imports from Russia, according to Vortexa. Sinopec took only three cargoes from the Russian far east in July, after loading up around 14 in both May and June. China's imports of US oil have hit an 18-month high as it pivots away from Russian crude Chinese state oil giant Sinopec has ramped up its purchases of US oil as it bets domestic demand will rise again in the fall. markets.businessinsider.com

It appears China's "no limits" friendship with Russia has some limits after all.

https://www.washingtonpost.com/opinions/2022/03/18/russia-china-said-their-friendship-had-no-limits-its-up-united-states-impose-some/

Nothing wrong with buying from both sides, whoever offer the best discount.

China May oil imports from Russia soar to a record, surpass top supplier Saudi

China's crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine.

www.reuters.com

 

[dbc]

Nothing wrong with buying from both sides, whoever offer the best discount.

China May oil imports from Russia soar to a record, surpass top supplier Saudi

China's crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine.

www.reuters.com

I didn't say anything was wrong, diversifying supplies is always smart.

 

[hualushui]

 

[MH.Yang]

The US doesn't sell anything to China, these are privately held American businesses that make independent commercial decisions.

USA (美国/4239) and Canada (加拿大/4126) are selling oil to China at a lower price than Russia (俄罗斯/4309). Of course we are willing to buy it.

The oil is the US Strategic Petroleum Reserve sold by Biden, not from US private enterprises.

 

[INS_Vikrant]

I heard US are selling oil to China at prices even below Russia offer. Why not since US is so desperate.

Such low price is exclusive offer to China only while India can only buy from Russia.

Iraq (our largest oil exporter) has actually started to offer India oil at cheaper rates than even Russia as its about to loose the tag.

Redirect Notice

 

[MH.Yang]

with China it's important to pay attention to what they do - not what they say.
Billions of dollars of investment MOUs signed with Iran and Russia but none of it has materialized. In the case of Ukraine and Russia conflict, I suspect China is privately upset with Putin for starting a conflict he has no hope of winning. The Chinese don't like associating themselves with losers, plus Putin's recklessness had the unintended consequence of unifying the West. Something the Chinese spent many years trying to erode. As for India, Indian imports of Russian crude isn't an issue. Russia is literally giving away its oil to India, the more oil Russia sells to India the less the Russians get back in oil revenue. We are more than happy for Russia to dump its oil into India at heavily discounted prices. The Chinese fully expect Russian oil production to fall off a cliff, already analyst predict a 16% decline in output this year. Russian output will progressively decline unless Russia is able to regain access to Western technology and funding.

The Chinese aren't willing to burn their bridges with their traditional suppliers and so they limit their exposure to Russia. The Indians, have decided short term gains merit the cost of alienating their traditional suppliers in the middle east. But once Russian oil starts to disappear from the market, middle eastern suppliers will not revert back to the favourable terms India enjoyed prior to the Ukraine special military operation.

The Biden administration has sold a small amount of low-cost oil to China. He hoped to influence Russia's oil price through the Chinese market.

Of course we don't mind the lower price of oil, but it does not mean that China supports US sanctions against Russia.

Trump's allies want Biden investigated for selling oil reserves to China even though Trump did the same thing in 2017

While Trump and his allies ripped Biden for selling oil reserves to Sinopec, records show the Trump administration sold 550,000 barrels to PetroChina.

www.google.com.hk

China will certainly pay attention to energy security. We can increase the share of Russian oil, but we will not rely on Russian oil. Of course we will keep in touch with our traditional oil partners. Is it strange?

I personally think that China's tolerance limit for a single oil source is 25%, which means that we can import up to 100 million tons of Russian oil every year.