Saudi Arabia maintains top oil supplier to China for the ninth month

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Yesterday, Sunday, Chinese customs data showed that Beijing’s imports of Saudi crude oil decreased by 21 percent during last May, compared to a year ago, but the Kingdom maintained the lead in suppliers for the ninth month in a row.

Data from the Chinese General Administration of Customs indicate that the volume of shipments from the Kingdom reached 7.2 million tons last month, equivalent to 1.69 million barrels per day, compared to 6.47 million tons in April and 9.16 million during May 2020.

Imports from Russia, the second largest supplier of crude, fell to 5.44 million tons compared to the previous month, equivalent to 1.28 million barrels per day.

The decline in imports from the two largest exporters is consistent with the annual decline in China’s total imports of crude about 15 percent to the lowest level of imports this year. Imports from the UAE fell 25 percent last month from their levels a year ago.

It could be a sign of further slowdown in shipments from Iran from the high levels recorded earlier in the year amid talks between Tehran and world powers to revive the nuclear deal that the United States withdrew from in 2018.

Reuters had reported that Iran had sold record quantities of oil since late 2020 behind the veil of other origins. Customs data did not record any imports from Iran for the fifth month in a row. Imports from the United States amounted to 1.07 million tons; That’s about twice their level a year ago.








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