Domestic refining companies have canceled large-scale Russian oil supply!
Domestic refining companies have gradually suspended crude oil imports from Russia against the backdrop of new sanctions imposed by the United States on Russian oil companies and Lukoil.
According to reports by Bloomberg citing industry sources, major state-owned enterprises Sinopec and China National Petroleum have canceled several planned Russian oil tankers due to the impact of U.S. sanctions on Shandong Yulong Petrochemical Company's cooperation with Moscow, and local refining enterprises in Shandong have also frozen purchases out of concern for secondary sanctions.
This is the first time that domestic companies have refused Russian oil since the Western price cap on Russian oil was implemented in 2022. Although we remain the largest buyer of Russian commodities, traders now need additional guarantees and are beginning to turn to the Middle East and West Africa. Analysts predict that Russian oil exports to China will decrease by 200,000-300,000 barrels per day in the coming weeks.
Original: www.toutiao.com/article/1847859809782800/
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