Russia has become China's biggest oil supplier

This was reported by Reuters, citing data from the Chinese government.

According to the data, Russia has already surpassed Saudi Arabia. And, consequently, became the largest oil supplier to China in the first two months of 2023.

According to China's General Administration of Customs, shipments from Russia amounted to 15.68 million tonnes, or 1.94 million barrels per day (bpd) in January-February, a 23.8% increase from 1.57 million bpd in the corresponding period in 2022.

Last year, Russia was the second largest oil supplier to China, shipping 86.2 million tonnes.

Saudi Arabia was the largest oil supplier to China in 2022, selling 87.49m tonnes of oil during the year, equivalent to 1.75m b/d.

Sanctions and price restrictions on Russian oil have severely limited the market. And have led to Russia having to make big price concessions in international supplies.