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- China's intake of Russian crude is set to reach a record this month, Kpler data cited by Bloomberg shows.
- Imports of Sokol crude are on course to jump as Indian buyers back away.
- The shift is due to tighter enforcement of Western sanctions, that's diminishing the discount on Russian oil.
Chinese imports of Russian crude are on course to reach record volumes this month, as Beijing takes over diminishing Indian demand.
1.7 million barrels a day are expected to ship into the country, Bloomberg said, citing Kpler data. China's intake of Sokol oil — a Russian crude typically sought after by India — is likely to triple from last month, and should hit an all-time high of 379,000 barrels a day.