*Indian and Chinese imports from Russia were below recent record highs in July as overall Russian seaborne crude exports fell to their lowest figure this year as Russia’s Opec+ compliance improved (MEES, 4 August).
*China’s imports from Russia fell by almost 500,000 b/d from June’s record 2.56mn b/d (MEES, 21 July), and with total Russian seaborne exports falling to 3.00mn b/d in July for the lowest figure this year, further declines are likely in August. Nevertheless, July’s 2.09mn b/d, according to a combination of Kpler shipping data and estimated overland shipments, was still the fourth highest figure ever. With all three of the higher figures also seen this year, average imports for the first seven months of 2023 at 2.12mn b/d are up 27% year-on-year (see chart). (CONTINUED - 501 WORDS)
