Russia’s Oil Flows Pivot East as China Buys More and India Pulls Back

Group 1: Crude Oil Exports - Russian crude oil exports to China increased by 23% month-on-month, while exports to India decreased by 29% [1] - Total Russian oil exports rose by 11% in December, driven primarily by increased purchases from China, with ESPO oil purchases reaching a four-month high [1] - Despite a decline in exports to India, Russian oil flows remained resilient at over 1 million barrels daily, although this was a significant drop from 1.77 million barrels in November [3] Group 2: Liquefied Natural Gas (LNG) Exports - Russian LNG exports to Europe saw significant increases, with France's purchases rising by 18% and Spain's by 27% in December [4] - Overall revenues from Russian LNG exports increased by 13% in December, while revenues from crude oil exports fell by 12% [5] - Total LNG exports in December reached their highest level for 2025, marking a 16% increase month-on-month [4]