Asia leads in terms of purchases of Russian oil

Asia for the first time overtook Europe and took a leading position in terms of purchases of Russian oil, and became the largest importer.

⠀

The authorities claim that this gap will widen in May.Analyst Jane Xie says that the combined volume of oil from Russia for Asia’s two biggest buyers, India and China, has risen to record levels, largely due to increased purchases from India.

⠀

“While this month’s shipments are likely to be slightly lower, they will still only be beaten by last month’s record,” says Jane C.

⠀

Analysts at Kpler share data that, as of May 27, tankers transported about 57 million barrels of Urals oil and 7.3 million barrels of Russian Far East oil ESPO. At the end of February, the figures were at the level of 19 million Urals and 5.7 million ESPO.