Chinese state-owned corporation Sinopec has purchased 30-40 cargoes of Russian ESPO crude for delivery in July-September to offset reduced supplies from the Middle East caused by the war with Iran.

Sinopec increases Russian oil imports to counter Middle East disruptions. Crude oil reaching a new all-time high by December 31 at 11.5% YES.

By Chen Aizhu, Siyi Liu and Trixie YapSINGAPORE, Aug 6 (Reuters) - China's state-owned Sinopec Corp, the world's biggest refiner, has ramped up purchases of Far East Russian oil…