*Russia cemented its position ahead of Saudi Arabia as top crude supplier to China for the first half of 2024. Even as China’s overall crude imports fell 3% to 11.09mn b/d amid lackluster demand (MEES, 12 July), Russian volumes were up by 4% year-on-year at 2.21mn b/d. In contrast, imports from Saudi Arabia were down 13% at 1.62mn b/d.
*Iraq was up 6% at 1.27mn b/d for number three spot, just ahead of number four ‘Malaysia’, up 14% at 1.19mn b/d. ‘Malaysia’ largely consists of covert Iranian supplies. Volumes surged to 1.44mn b/d for June, the second highest on record behind June 2023’s 1.51mn b/d. (CONTINUED - 315 WORDS)
