In China, imports of Russian oil in November set a new record

China's oil imports from its major suppliers rose significantly in November from a year earlier. Russian shipments climbed to a record high, while shipments from top exporter Saudi Arabia fell 5.9 percent to 3,990,000 tons, according to data from China's General Administration of Customs.

In addition, oil imports from Angola, Iraq and the United Arab Emirates showed a double-digit growth rate compared to November last year, as well as significantly increased Libyan oil exports.

Russian imports to China hit a record monthly high of 3.31 million tonnes in November 2014, rising 65.5 percent year on year and 20.3 percent from the previous month. Russia ships oil to China by sea and by pipeline under an agreement with Rosneft. The previous record for the volume of crude oil imports from Russia was reached in May 2014 and amounted to 2.95 million tons.

Russia is currently China's third-largest oil supplier, up from fourth in 2013. So far this year, the Middle East accounts for 52.2 percent of China's crude oil imports, up from 51.7 percent in January-November last year, while the share of African crude oil fell slightly to 22 percent from 22.7 percent. percent a year earlier. Latin America accounts for 10.7 percent of all China's crude oil imports this year, up from 9.6 percent last year.