Saudi Overtakes #Russia As #china's Biggest Crude Supplier #saudiarabia #oilimports #oilexports

By 23rd November 2015 Industry News No Comments

Monday data show that Saudi Arabia has overtaken Russia as the largest crude supplier to China, Monday data reported by Bloomberg show.

Citing data from the Beijing-based General Administration of Customs, Bloomberg reported that Saudi sold 3.99 million metric tons to China in October- 0.8% more than the previous month. OPEC peer Angola also topped Russia in the amount of crude it shipped to China in October, the data show.

Russia supplied 3.41 million tons to China in October- representing a 16% decline from a record in September. And Angola’s crude exports to China rose 27% from September to 3.64 million tons, according to the data.

Bloomberg notes that China has emerged as a battleground for oil producing countries that are seeking to defend crude sales amid a global supply glut.

Twice in 2015- in May and September- Russia took the top spot from Saudi Arabia in the volume of crude sales to China. According to the customs data cited by Bloomberg, Saudi represented about 15% of China’s crude imports in the first 10 months of 2015, versus 12% for Russia.