China increased imports of Russian oil and reduced supplies from Saudi Arabia

US, WASHINGTON (ORDO NEWS) — China, one of the world’s largest consumers of fuel, cut oil purchases from the largest supplier to China (Saudi Arabia) in March by 1.6% and increased oil purchases from Russia by 31%, the second most important supplier to China.

This is evidenced by calculations Reuters based on data from the State Customs of China.

In general, in March, compared with the same period last year, imports of crude oil to China grew by 4.5% to 9.68 million barrels per day.

Shipments from Saudi Arabia totaled 7.21 million tons, or 1.7 million barrels per day, according to the PRC’s Main Customs Administration. Russia shipped 7.02 million tons to China last month, or 1.66 million barrels per day.

Oil supplies from the United States to the PRC are almost halted due to a trade war. China cut off oil supplies from Venezuela due to the possibility of falling under US sanctions.

The China National Petroleum Corporation (CNPC) was the main consumer of Caracas oil.


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