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China records 19% lower oil imports from Saudi Arabia in June

China records 19% lower oil imports from Saudi Arabia in June

Riyadh - Mubasher: China's oil imports from Saudi Arabia declined by 19% year-on-year (YoY) to 7.2 million tonnes, equivalent to 1.75 million barrels per day (bpd), in June, Reuters reported.

Although China witnessed a decrease in oil imports from Saudi Arabia, the Kingdom has remained China's biggest crude oil supplier in June for the eighth month in a row, as shown by the cited data from the General Administration of Customs in China.

The customs also referred that China's imports of crude oil from the UAE and Kuwait plunged by 32% and 23%, respectively, in June when compared to the same month of 2020. 

China decreased its crude oil purchases during the second quarter amid rising global oil prices and shrinking refining margins, and its imports retreated for the first time on an annual basis in the first half (H1) of 2021 since 2013.