Thursday , June 17 2021

Russia beats Saudi Arabia with oil exports to China

Russia beats Saudi Arabia with oil exports to China


Archive – Russian and Saudi Energy Ministers

China topped the list of Chinese exporters of crude oil in December, strengthening for the third consecutive year its leadership position for the entire 2018, surpassing Saudi Arabia.

According to Chinese Customs, the volume of Chinese imports of Russian oil reached 7.04 million tons, or 1.665 million barrels a day, in December, 40 percent more than last year's imports of 5.03 million tons.

For the whole year, oil imports from Russia rose to 71.49 million tonnes, or 1.43 million barrels per day, up 19.7% from 2017 to 59.7 million tonnes.

In contrast, Saudi Arabia exported 6.97 million tonnes to China in December 2018, or 1.64 million barrels a day, 48% more than a year earlier, with exports reaching 4.71 million Tone.

In 2018, Saudi Arabia, the world's largest producer of OPEC oil, increased its supplies to China by 8.7 percent to 56.73 million tonnes, equivalent to 1,135 million barrels per day.

Source: Reuters

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