"Our refining margins were in the negative, and operations only began to recover slightly from late May with some early signs of easing in lockdowns," a refinery trading manager said

Customs data on Friday showed that China more than doubled its imports of Russian coking coal in April, taking advantage of a large discount compared to other sources

Beginning in August 2021, several Covid-19 outbreaks in China led to mobility restrictions, which in turn reduced domestic demand for petroleum products

As most shipments were contracted before the invasion of Ukraine, any cut to Russian oil purchases due to worries about sanctions would only be reflected in data due for release in May

King Salman says efforts by the world's top oil exporter to maintain spare capacity had proven important to safeguarding energy supply security