By Micah Jonah
February 17, 2026
China’s imports of Russian crude oil are set to hit a new record this February as independent refiners snap up heavily discounted cargoes, traders say.
Data from Vortexa Analytics show Chinese deliveries could reach 2.07 million barrels per day (bpd), surpassing January’s estimated 1.7 million bpd. Kpler’s provisional data put the figure at 2.083 million bpd, up from 1.718 million in January.
The surge comes after India scaled back purchases of Russian oil under U.S. pressure, leaving China as Moscow’s top client for seaborne shipments since November. India’s Russian imports are estimated at 1.159 million bpd this month, the lowest in two years.
The increased Chinese demand has pushed Russian oil prices to deep discounts, with Urals crude trading $9–$11 below benchmark ICE Brent. Independent Chinese refiners, known locally as “teapots,” are taking advantage of these lower prices to compete with rival supplies from Iran and other sources.
Analysts say uncertainty over potential U.S. military strikes on Iran has also strengthened the appeal of Russian crude for Chinese refiners, who see it as more reliable amid regional tensions.
Some of the increased Russian shipments are going to larger independent refiners outside Shandong, while Iranian oil deliveries have fallen to 1.03 million bpd from January’s 1.25 million bpd, according to Vortexa.
