Malaysia Becomes China’s Second Largest Crude Oil Supplier, Pushing Brazil to Third Place

Total imports from Malaysia were up by 76.4% year on year. It was up 35.7% from the December 2020 level. Imports from Brazil and Angola will likely continue to fall in the coming month, given their less competitive prices, according to sources.

RIO DE JANEIRO, BRAZIL - Crude oil flows from Malaysia to independent refiners in China witnessed a dramatic surge of more than 70% year on year in January, helping the Asian supplier to displace Brazil from the second spot, while Russia held on to the ranking as the top supplier even with modest growth in volume.

The growing interest in Malaysian blends reflects the flexibility of China's independent refiners in embracing blended crudes.

Total imports from Malaysia were up by 76.4% year on year. It was up 35.7% from the December 2020 level. Malaysian inflows comprised of bitumen . . .

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