Russian Oil Flows to China Hit Highest Levels Since Ukraine Invasion
- Overall exports of crude, fuel oil in January hit record high
- The oil bought by China is cheaper than similar Africa grades
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Russian exports of discounted crude and fuel oil to China have jumped to record levels as the re-opening of the world’s biggest energy importer gathers pace after the dismantling of Covid Zero.
Overall flows last month were at the highest at any point since the invasion of Ukraine a year ago and surpassed a record set in April 2020, according to data intelligence firm Kpler. Exports of fuel oil surged to an all-time high.