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2023 - Record Year for Chinese Crude Imports

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Chinese imports from all the regions covered by Petro-Logistics saw a volumetric increase in 2023. Chinese customs showed an 11% yearly rise, whilst Petro-Logistics’ data recorded a 10% increase. The top 4 crude sources in 2023 were Russia at 19% of the total, Saudi Arabia at 15%, Iran at 12%, and Iraq at 11%. Russia’s number one position came as volumes rose 37% y/y, mostly via seaborne arrivals, which rose to a record 1.590 mb/d.

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