Russia to Raise Crude Exports to China in 2018

Sergey Androvov, vice president of the Russian Transneft, believes that Russia’s oil exports to China may increase by 45% in 2018. Conversely, Russia’s oil exports to Europe may decrease to 119.8 million tons. On a yearly basis, Russia’s oil exports to China rose by 23.4% in January to 5.67 million tons.