Saudi Arabia’s takes top position as China’s main oil export...| MENAFN.COM

Tuesday, 17 May 2022 04:32 GMT

Saudi Arabia’s takes top position as China’s main oil exporter


(MENAFN) According to Saudi Arabia’s customs data, the country recalled its top position as Chinese oil supplies during last year, with supplies increasing by 3.1 percent more than 2020, and raised its stake to 17 percent of overall Chinese imports.

Based on data from the General Administration of Customs published on Thursday, China took 87.58 million tons of crude oil from the country, or a correspondence of 1.75 million barrels-per-day.

That in comparison to 84.92 million tons in 2020, when Saudi Arabia owned 16 percent of the Chinese market.

The enlarged market stake by the top OPEC exporter came as it enhanced sales to local refiners and strengthened by demand from private mega refiners Zhejiang Petrochemical Corp as well as Hengli Petrochemical.

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