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Mass media / Periodicals

Saudi Arabia increased its oil supplies to China to a record volume

"Oil of Russia" 30.07.2019 at 12:28

Saudi Arabia supplied China with a record amount of oil in June 2019 of 7.72 million tons, the General administration of customs of PRC. Saudi Arabia is increasing its deliveries to the Chinese market amid falling imports from Iran, which is under US sanctions.

Russia is the second largest supplier of oil to China. The volume of shipments last month amounted to 7.15 million tons, compared with 6.36 million tons a month earlier.

On the third spot is Angola, which exported 4.43 million tons.

because of the worsening situation in the Persian Gulf, Iraq has cut supplies in June to 3.5 million tons versus 4.5 million tons in may.

China continues to purchase oil in Venezuela, which is also experiencing economic and political pressure from the United States. The procurement volume in June amounted to 1.13 million tons.

Supplies from Iran fell to 9-year low, amounting to 855,6 thousand tons. In fact, the supply volume could be much larger. Bloomberg reported that purchases of Iranian oil in circumvention of U.S. sanctions. Iranian oil is accumulated in storage without customs clearance, so is not counted in the official statistics of China.

in addition, some Chinese companies have obtained raw materials from repositories in the framework of oil in exchange for investments. Beijing has strongly opposed anti-Iran sanctions, accusing US of infringement of their legitimate right to trade relations with other countries.

Despite the trade war between Beijing and Washington, Chinese companies are not officially allowed to buy American oil. The United States exported to China in the past month, 769 thousand tons.

the Total volume of import of oil to China in June reached 39,58 million tonnes, 15.2% higher than a year earlier.

Source: PRIME