China becomes Russia’s biggest oil buyer, India loses edge

Russia has shifted a record amount of its oil exports from India to China, marking a major change in global energy flows. Latest figures show that Moscow is now sending around 1.86 million barrels per day of crude oil by sea to China. This is a sharp 46% rise compared to last year and the highest level ever recorded.

China has now overtaken Saudi Arabia to become Russia’s top oil customer. Every single barrel of ESPO crude, a grade shipped from Russia’s Far East, is now going directly to Chinese refineries. One of the biggest buyers is the Yulong refinery, which alone takes about 240,000 barrels per day.

Russia is offering its Urals crude at a discount of about $7 per barrel compared to Brent, the global benchmark. This price advantage, combined with Russia’s ability to manage sanctions and shipping risks, makes the deal highly attractive for Beijing. For China, this means a steady supply of cheaper energy, which strengthens its economic stability.

On the other hand, India is losing ground. With fewer Russian barrels coming its way, New Delhi’s bargaining power over future supplies is reduced. This shift highlights how global energy politics can quickly change, reshaping trade ties and national strategies.