According to preliminary data, China has begun to import a wider range of Russian oil, including rare arctic grade Arco. It has been reported Bloomberg With reference to data from the analytical company Vortexa Ltd.
According to the agency, China has purchased three shipments of crude oil from the Arctic, including the sour and intense Arco variety. We are talking about planned deliveries to Russia in January or February of this year.
At the same time, the first deliveries to China began in November 2022.
Traders realized that these purchases could replace Middle Eastern quality oil. An example is the Iraqi Basrah Heavy.
“There’s really a reorientation going on in Arctic grades,” said Victor Katona, chief crude oil analyst at Kpler.
Before Russia sends More Arctic oil to China and India after sanctions.
Also, The Epoch Times, China’s will win From limiting the price of Russian oil.