In March, China will set a record for russian oil consumption. This was reported by UNN with reference to Business Insider.
Details
The Kpler agency predicts that the supply of Sokol oil, which is usually consumed by India, to China may triple compared to February, reaching a record level of 379,000 barrels per day.
This may indicate a deepening trade partnership between Beijing and moscow, as well as the fact that Indian buyers are withdrawing from the market.
Recall
Oil prices fell due to an expected increase in supplies from russia, slower growth in jet fuel demand, and cautious trading ahead of the Fed's interest rate decision.