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Asia’s biggest oil refiner has slashed its purchases of Russian crude this month as it was unwilling to pay higher prices other buyers elsewhere, were offering, Reuters reported. China-based Sinopec has been the largest buyer of ESPO, a type of Russian crude, in the past two months, acquiring about 20 million barrels. But in July, the company is expected to snap up fewer cargoes after offering lower bids to Russian exporters.

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