China buys record volume of Russian oil as European demand dives - traders
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MOSCOW (Reuters) - China is buying a record 1.6 million tonnes of Russian oil for loading at sea over the next four weeks, taking advantage of rock bottom prices for Russia's flagship Urals grade combined with a collapse in demand in Europe, traders said on Wednesday.The volumes make for a new monthly record of Urals supply to China after they surpassed 1.2 million tonnes in January.They also provide a lifeline to Russian firms as they struggle to sell oil in Europe because the coronavirus has..