Latest official Turkish trade stats show record Russian crude imports of 428,000 b/d for November, beating the previous record of 338,000 b/d set just a month earlier. At an average of 295,000 b/d since April (the first trading month after Russia’s late-February invasion of Ukraine), volumes for the eight months to November were up a whopping 130% year-on-year.
However, unlike India (MEES, 3 February) and China (MEES, 27 January), Turkish buying of Russian crude has fallen sharply since EU sanctions entered effect on 5 December: volumes fell back to 193,000 b/d for December and a provisional 147,000 b/d for January, figures from data intelligence firm Kpler indicate. (CONTINUED - 146 WORDS)