Imports of Russian oil to China in December will grow by more than 10% by November and reach 1.35 million barrels per day, writes American Bloomberg.

Independent Chinese refineries provided the main contribution. While state-owned companies are cautious with purchases, private processors are actively using new import quotas and the proximity of supplies from the Russian Far East.

An additional argument in favor of increased purchases is the price. At the end of the month, Siberian ESPO crude was sold at a discount of $7-8 per barrel to Brent. This is the deepest discount this year, which has made Russian oil particularly attractive to China.