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Saudi Biggest Crude Supplier to China in August - First Time in Four Months

OIL

Chinese crude imports from Russia were 28% higher in August that a year prior but switched with top supplier Saudi Arabia for the first time in four months according to General Administration of Customs data.

  • Chinese imports of Russian oil totalled 8.342 million tonnes in August.
  • Imports from Saudi Arabia rebounded last month to 8.475 million tonnes, or 1.99 million bpd, 5% above the year ago levels.
  • China's August crude imports fell 9.4% from a year earlier, as outages at state-run refineries and lower operations at independent plants caused by weak margins capped buying.

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Chinese crude imports from Russia were 28% higher in August that a year prior but switched with top supplier Saudi Arabia for the first time in four months according to General Administration of Customs data.

  • Chinese imports of Russian oil totalled 8.342 million tonnes in August.
  • Imports from Saudi Arabia rebounded last month to 8.475 million tonnes, or 1.99 million bpd, 5% above the year ago levels.
  • China's August crude imports fell 9.4% from a year earlier, as outages at state-run refineries and lower operations at independent plants caused by weak margins capped buying.

Keep reading...Show less