China's Sinopec Corp, the world's largest refiner, has significantly increased its purchases of Far East Russian crude oil.
According to traders and shipping trackers, the state-owned giant has secured between 30 and 40 shipments, representing a daily volume of approximately 241,000 to 320,000 barrels.
This strategic pivot aims to compensate for supply disruptions stemming from escalating tensions in the Middle East.
The move underscores the growing reliance on Russian energy supplies by major Asian buyers as geopolitical risks in the Middle East intensify.
Sinopec's increased appetite for Russian crude highlights the flexibility of global oil markets in rerouting supplies to maintain refinery operations amidst regional instability.
The shift also reflects broader trends in energy security strategies, where diversification of supply sources becomes critical.