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Saudi Arabia continues to be China’s top oil supplier in August

Saudi Arabia continues to be China’s top oil supplier in August
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Riyadh – Mubasher: Saudi Arabia has retained its position as China's top crude oil supplier for the ninth month in a row during August, Reuters cited official data by China’s General Administration of Customs on Monday.

Saudi oil exports to China increased by 53% to 8.06 million tonnes, registering 1.96 million barrels per day (bpd) August 2021 compared to 1.24 million bpd in the same month last year.

On a monthly basis, Saudi crude arrivals to China were higher than 1.58 million bpd in July.

This came in line with the state of major oil producers relaxing production cuts.

Last July, oil production cuts were eased and supply was increased by a further 2 million bpd, adding 400,000 bpd a month from August until December.

Meanwhile, crude shipments from the UAE to China decreased by nearly 40% in August this year compared to the same month in 2020.