Data from China’s General Administration of Customs showed that Saudi Arabia ranked first as China’s largest supplier of crude oil in August last year, with an average supply of 1.99 million barrels per day.
The data showed, according to Turkey’s Anadolu news agency, that Saudi Arabia regained its lead from Russia, which has been China’s biggest oil exporter for the past three months, after Moscow offered discounts on its oil.
On an annualized basis, Saudi oil exports to China rose by 5 percent, with Riyadh strengthening its position as the world’s largest exporter of crude oil, with an average daily volume of more than 7.3 million barrels per day.
Exports of crude oil from Russia to China amounted to about 1.95 million barrels per day, up 27.9% year on year, according to customs data.
And since April last year, Moscow has begun offering discounts to buyers of its oil in an attempt to offset the European Union’s decline in crude oil purchases amid the war in Ukraine.
China is the world’s largest importer of crude oil, consuming an average of more than 10 million barrels a day, according to OPEC.
Source: El Iktisad
