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China's Russian Oil Imports Soar to Record High in February as India Reduces Purchases
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China's Russian Oil Imports Soar to Record High as India Cuts Back
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Moneycontrol
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16-02-2026, 17:13
China's Russian Oil Imports Soar to Record High as India Cuts Back
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China's Russian oil imports are projected to reach a new record high in February, climbing for the third consecutive month.
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Independent Chinese refiners increased purchases of deeply discounted Russian crude after India significantly reduced its imports.
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Estimated February deliveries to China are around 2.07-2.083 million barrels per day, surpassing January's 1.7 million bpd.
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India's Russian crude imports are expected to fall to a two-year low in December and further to 1.159 million bpd in February.
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Concerns over potential US strikes on Iran have made Russian oil a more reliable option for Chinese 'teapots' compared to Iranian supplies.
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