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China Ramps Up Imports Of Russia’s Arctic Crude

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China has stepped up imports of Arctic Russian crude grades in the latest sign of a re-routing of Russian oil deliveries internationally. The shift was reported by Bloomberg, which cited data from Vortexa and Kpler, with the Vortexa data showing that China only bought its first cargo of Arco—a sour, heavy crude—in November last year. According to traders that Bloomberg spoke to, the grade could displace some Iraqi oil imports. “The re-routing of Arctic grades is absolutely taking place,” Viktor Katona, lead crude oil analyst…

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