Todd Bishop
The amount of crude oil imported from Saudi Arabia last month increased by 43% year-on-year, driving demand for crude oil with new private refineries in the Mainland. With the increase in the number of imports from Saudi Arabia, the relevant oil-producing countries have once again become China’s largest crude oil supplier.
According to data from the General Administration of Customs of China, China imported 6.3 million tons of crude oil from Saudi Arabia last month, which is 1.53 million barrels per day, compared with 1.07 million barrels per day in the same period last year.
China also imported 6.12 million tons of crude oil from Russia last month, equivalent to 1.49 million barrels per day. In the same period last year, it imported 1.35 million barrels per day, importing 3.24 million tons of crude oil from Iran, equivalent to 789,100 barrels per day.
However, according to Reuters quoted sources, the largest state-owned refinery in the mainland has suspended the purchase of Iranian crude oil since this month.
