Saudi owns largest oil supplier to China in October – customs data

Oil and gas tanks are seen at an oil warehouse in a harbor in Zhuhai, China Oct. 22, 2018. REUTERS/Aly Song/File Photo

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BEIJING, Nov. 21 (Reuters) – Saudi Arabia maintains its position as largest supplier of crude oil to China for an 11th month in a row in October, with volumes up 19.5% of a year ago customs data showed on Sunday.

Saudi oil arrivals amounted to in total 7.1 million ton, of 1.67 million barrels per day (bpd), General Administration data of Customs showed, that’s 19.5% higher than 1.4 million bpd a year and compare with 1.94 million bpd in September.

Inflow from Russia, including pipeline oil, inch up met 1.3% of a year ago to 6.6 million ton last month, of 1.56 million barrels per day (bpd). that compared with 1.49 million bpd in September.

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The growth in Russian supplies, mainly of its flagship oil ESPO blend, followed by China’s release of fresh import quota in August and October which allowed independent factories to increase their purchases of one of their favorite numbers.

Still, total crude oil imports fell in October to the lowest level in three years amid Beijing’s broad cap on imports from independent refineries. read more

Deliveries from Brazil were down 53.2% of a year rather, while die from the United States met 91.8% fell.

Reuters reported imports from China of Iranian oil has held up half a million barrels a day on on average between August and October, as buyers judge that buying crude oil at cheap prices outweighs the risks of US sanctions lifting. read more

Most of these barrels have passed on as exports from Oman, United Arab Emirates and Malaysia, weighting on competitive supplies from Brazil and West Africa.

Official data has consistently shown that China has imported zero oil from Iran of Venezuela since start of 2021, as national oil companies remained on the sidelines on worry over US sanctions.

Below are the details: with volumes in ton.

(rough conversion: ton = 7.3 barrels)

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Reporting by Aizhu Chen, Cheng Leng and Shivani Singh; Editing by Michael Perry

Our standards: The Thomson Reuters Trust Principles.

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