China’s Russian oil imports surge to record levels in February as discounts and geopolitical shifts reshape global crude markets

China’s crude oil imports from Russia are on track to hit a fresh record in February, marking the third consecutive month of growth, according to traders and ship-tracking data.

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Analysts say the surge highlights shifting dynamics in global crude markets.

Preliminary estimates from energy analytics firm Vortexa indicate Russian shipments to China could average about 2.07 million barrels per day (bpd) this month, up from roughly 1.7 million bpd in January.

Provisional data from Kpler put the figure at approximately 2.083 million bpd, a notable increase from 1.718 million bpd the previous month.

Independent Chinese refiners, known as “teapots,” have capitalized on deeply discounted Russian crude, including Urals, ESPO, Sokol, and Varandey grades.

Traders note that Russian crude currently trades $9-$11 below the global ICE Brent benchmark, among the lowest discounts in years, making it highly attractive economically.

China surpassed India as Moscow’s largest seaborne crude customer in late 2025, a trend that has accelerated amid Western sanctions and diplomatic pressures that have led Indian refiners to cut Russian imports.

Kpler data suggest Indian shipments may fall to around 1.159 million bpd in February.

Market analysts point to geopolitical uncertainty particularly fears of potential U.S. military action involving Iran as a factor prompting Chinese buyers to favor Russian crude over alternatives.

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The rise in China’s Russian oil imports underscores a broader realignment of global crude flows, with Beijing absorbing volumes previously headed to traditional buyers such as India, reshaping the global energy landscape.