Chinese private oil refineries are reportedly purchasing Russian ESPO crude oil at a faster rate than usual due to ongoing pricing disputes with sellers from Iran, according to Bloomberg. According to traders who requested anonymity due to the confidentiality of the information, cargoes for February deliveries – up to 3.8 million tons – were sold during the first two weeks of January. Russia has reduced prices for ESPO crude from Siberia, making trading more attractive for independent Chinese oil refineries. These refineries, primarily located in the Shandong province, have been seeking the op…