Daily Energy Report
Russia is China’s #1 oil supplier, Russia LNG ambitions, Qatar-India LNG, UK’s energy price cap, Russia oil processing, Saudi-China petrochemical deal, China outpaces EU in energy research, and more.
Chart of the Day
Reuters: China defies sanctions to make Russia its biggest oil supplier in 2023
CNBC: China Defies Sanctions to Make Russia Biggest Oil Supplier
Bloomberg: Russia Becomes Top China Oil Supplier for First Time Since 2018
FOX News: Russia replaced Saudi Arabia as China's top oil supplier in 2023
Summary
The news is that Russia has become China’s top oil supplier in 2023. Every major news outlet looked at the issue from its own view or agenda. Figure (1) above shows China’s oil imports from Saudi Arabia, Russia, Iraq, and the UAE. The figure shows a slight decline in Saudi exports to China (about 140 kb/d) in 2023 after being steady for years. It also shown that imports from the other countries, especially Russia, increased.