China’s oil imports from Russia hit an all-time high in October, further consolidating Russia’s position as China’s top oil supplier, while Chinese imports from Iran dropped last month on uncertainties over the U.S. waivers for Iranian customers. According to Reuters calculations based on data from China’s General Administration of Customs published on Monday, China imported around 1.73 million bpd of oil from Russia last month, a 58-percent surge compared to October last year, thanks to appetite from the independent refiners rushing to fill up their import quotas for this year. China’s oil imports from Russia averaged 1.39 million bpd between January and October, up 16.6 percent year on year, Reuters estimates based on the customs data showed. Iranian oil shipments to China, on the other hand, slumped by 64 percent on the year, to around 247,160 bpd in October, when Iran’s buyers were cutting imports, hoping to get a […]