China buys less Saudi crude, slowing oil imports

China buys less Saudi crude, slowing oil imports


July 21, 2021 16:19 GMT

However, Saudi Arabia remains the largest supplier of crude to China.

Saudi Arabia was China’s largest supplier of crude, although shipments from the Arab country to the world’s largest oil importer fell 19% last month amid a decline in global imports. reach Reuters.

In June 2021, crude from Saudi Arabia reached the Asian country at 7.2 million tons, while total shipments from Russia amounted to 6.65 million tons – 1.62 million tons less – placing the Arab country as China’s largest supplier for the eighth month in a row.

According to official customs data, China recorded zero arrivals from Iran and Venezuela, countries sanctioned by the United States. However, Reuters reported that Iranian oil continued to enter the Asian country, disguised as crude oil from other countries including the United Arab Emirates.

Amid rising global oil prices, China decided to curb its crude oil purchases in the second quarter, which fell in the first quarter for the first time since 2013.

Although imports in the first half of 2021, from the main importer of crude oil they went up At 260.66 million tons, driven by large purchases from independent refineries, purchases in the second quarter were down nearly 13% due to a steady rise in global prices.

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