China’s Top Refiner Pivots to Russian Crude

China’s state-run Sinopec has increased purchases of Russia’s ESPO crude for Q3 delivery, securing roughly 30-40 shipments, or 241,000-320,000 bpd, to ensure reliable supply amid ongoing Middle East shipping disruptions. The crude’s short delivery time from Russia’s Kozmino port, lower freight costs, and cheaper pricing versus West African and Brazilian grades make it attractive as Chinese refiners seek certainty over broader import growth. The move underscores how geopolitical risk in the Middle East is reshaping trade flows, with China favoring shorter-haul Russian barrels as a hedge against supply uncertainty. The article suggests this could support Russian crude demand and reinforce pricing strength for Pacific Basin grades, while highlighting continued weakness in China’s overall crude imports due to lower refinery runs and fuel export restrictions, even as some curbs are eased.