Chinese oil refineries (refineries) purchased 10-12 cargoes of Russian Urals oil with shipment in April, which is much more than in the previous two months. Bloomberg informs referring to the data of traders. The agency clarifies that the volume of each cargo is 100 thousand tons of oil. Thus, the total volume of April deliveries of Russian oil to China reaches 1-1.2 million tons. In February, the size of shipments amounted to 540 thousand tons in March - about 700 thousand tons. Thus, compared with March, the bulk of purchases increased by 40-70%.
"The resumption of consumer interest was mainly due to the recent drop in oil prices and the growth of domestic economic activity in China," the agency quoted the traders as saying.
The cost of Russian Urals oil has dropped to its lowest level since June 1999.