Russian crude oil imports by China, India hit all-time high in May
Russian crude oil imports by China and India in May hit an all-time high as buyers gorged on discounted supplies, reducing demand for oil from the Middle East and Africa, according to preliminary assessments from ship trackers.
The jump in Russian supplies comes ahead of a meeting between the Organization of the Petroleum Exporting Countries and their allies including Russia on June 4.
Producers face some pressure to act to support Brent futures which have fallen 5% this week to about $73 a barrel despite an OPEC+ pledge in April to cut more output from May.
