Saudi Arabia Remains China’s Top Crude Supplier for 10th Month

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Saudi Arabia maintained its position as the largest supplier of crude oil to China for the 10th consecutive month in September, Reuters reported, citing China’s General Administration of Customs.

Oil supplies from Saudi Arabia to China rose 2% year-on-year (YoY) in September, to 7.96 million tons or 1.94 million barrels per day (bpd), but fell compared to August’s level of 1.96 million bpd.

Shipments from Russia, China’s second largest crude supplier, fell 18% YoY to 6.14 million tons last month, or 1.49 million bpd.

Supplies from Brazil and the United States decreased 64% and 83% YoY, respectively.

China’s total crude oil imports fell by 15.3% in September compared to the same period last year, with companies relying on inventories amid high global prices.