From an astronomical rise in Russian crude share to the dramatic erosion of inflows from Africa and the Middle East, one year of the Russia-Ukraine war has brought about structural changes to the crude consumption pattern of China's independent refining sector, which accounts for nearly one-third of the country's overall crude imports and more than half of the nation's crude intake from Russia.
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Register NowWhile the surge in Russian oil inflows to record highs reflects China's growing importance as a key trading partner for Russia in the wake of the war in Ukraine, it has also started giving a headache to Latin American and Middle Eastern suppliers, which are seeing their market share fall in Asia's largest oil consumer.
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