FX.co ★ Russia retains its position as China's largest oil supplier

Last month, China boosted its crude oil imports from Russia by 27.1% to 5.221 million tons on a yearly basis, the General Administration of Customs of the People's Republic of China said. As a result, Russia was China’s biggest oil supplier for the fourth consecutive month.

China increased its oil shipments from Angola by 10.6% to 4.111 million tons in June. Angola is China’s second top oil supplier. Meanwhile, Saudi Arabia exports to China fell by almost 16% to 3.85 million tons, making the kingdom China’s third-largest oil exporter.

China's total crude oil imports rose by 17.9% to 36.11 million tons in June. In March 2017, its oil shipments reached record 38.95 million tons, or 9.2 million barrels a day. In January-June, China’s oil imports advanced by 13.8% to 212.34 million tons. At the moment, the country is the world’s second biggest crude oil buyer after the United States.