China is ramping up Russian oil imports and Beijing could greenlight even more volumes

• China's state-run refiners have been increasing purchases of Russian oil, and Beijing could give them the greenlight to ramp up further, according to Energy Aspects.
• Analysts said Chinese companies have been waiting for clear direction from Beijing on how much Russian oil to buy.
• China could see its daily Russian oil imports increase by 500,000 barrels per day this year, to about 2.2 million. 

Chinese state-run refiners have been increasing purchases of Russian oil, and it signals that imports could ramp up further once Beijing gives the greenlight, according to a note from Energy Aspects.

Energy giants PetroChina and CNOOC have recently resumed buying waterborne Russian oil, Energy Aspects strategists said, and at least three supertankers of Urals crude were marked with China as a destination.