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China imports record amount of Russian crude oil in 2024, Reuters reports

  • Imports of Russian crude oil to China reached a record high in 2024, rising by 1% compared to 2023, as reported by Reuters.
  • China imported 108.5 million metric tons of Russian crude oil, equivalent to nearly 2.17 million barrels per day, according to China's General Administration of Customs.
  • China has reduced supplies from Saudi Arabia by 9%, with Saudi Arabia shipping 78.64 million tons in 2024, which is 1.72 million barrels per day less than in 2023, according to Reuters.
  • Total crude oil imports to China decreased by 1.9%, marking the first annual decline since the pandemic due to weak economic growth and lower demand for fuel, as reported by Reuters.
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