China is on track to import record amounts of Russian oil this month; This is fueled by a large shipment of the Sokol breed, which India has abandoned for fear of US sanctions. Bloomberg writes this based on Kpler data.
China is on track to buy about 1.7 million barrels of Russian oil per day this month, according to data tracked by Kpler. Sokol’s volume is expected to triple from the previous month to 379,000 barrels per day, an all-time high.
“It is not yet clear whether all of Sokol’s shipments will go to actual buyers or will be unloaded in bonded storage facilities. In the report, traders note the reluctance of Chinese banks to trade due to recent US sanctions on tankers.
“Pumping out backlogs of Falcon shipments in Singapore and South Korea is slowly continuing, but actual revenues in China by the end of the month may differ due to changes in destinations,” Kpler said.
It was learned yesterday that the OPEC+ agreement was finalized. puts Russia’s oil export revenues are at risk
Previously the price of Brent oil updated Maximum since November last year.