Russia’s Urals Touted to Refiners in China as Oil Flows in Flux

While China is the no. 1 buyer of Russian oil delivered by sea as well as land routes, local refiners predominantly take ESPO, a grade that’s produced and loaded from the eastern part of the country. Chinese imports of Urals, which ships from ports in the west, are not typically part of processors’ regular appetite given the geographical distance and high freight costs.