Russian oil exports to China surge in January as India, Turkey cut buying, data shows
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China is set to increase its imports of Russian oil in January, absorbing barrels previously destined for India and Turkey due to Western sanctions. Preliminary data indicates China will receive nearly 1.5 million barrels per day (bpd) of Russian oil, up from 1.1 million bpd in December. Meanwhile, India has reduced its purchases to below 1 million bpd, and Turkey's imports have also declined. Discounts for Urals crude delivered to China have widened significantly, reflecting the shift in supply dynamics.
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