China’s Crude Oil Imports From Saudi Arabia Drop by 13% in March

China’s Crude Oil Imports From Saudi Arabia Drop by 13% in March

China imported around 13% less crude oil from Saudi Arabia in March 2022, compared to a year earlier, while its imports from Russia dropped by 14%, Reuters reported.

Saudi Arabia remains the top oil supplier for China, while Russia comes in second place.

Crude oil arriving from Saudi Arabia totaled 6.858 million tons in March, equivalent to 1.61 million barrels per day (bbl/d), according to China’s General Administration of Customs.

In January and February 2022, imports from Saudi recorded an average of 1.81 million bbl/d, while it was 1.85 million bbl/d a year earlier.

Meanwhile, imports from Russia recorded 6.39 million tons, equivalent to 1.5 million bbl/d, compared to 1.75 million bbl/d in March 2021 and 1.57 million bbl/d in the first two months of 2022.

This comes as China’s overall crude oil imports dropped by 14% year-on-year as independent refiners decreased purchases in the middle of shrinking margins.

Sarah Samir 3226 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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