Saudi Arabia Remains China’s Main Oil Supplier

Last month, Saudi Arabia increased oil supplies to China by 24% year on year, while Russian supplies decreased by 10%, Reuters reported, referring to data from China’s General Administration of Customs.

China’s largest oil suppliers in July 2021 were Saudi Arabia, Russia, Iraq, Kuwait, and Oman.

Saudi Arabia supplied 6.669 million tons of oil to China, which is 24.4% more compared to July 2020. Russia supplied 6.639 million tons of oil to China, which is 10% less than a year earlier.

Monthly, oil supplies from Russia fell from 1.62 million barrels per day in June to 1.56 million barrels per day in July.

Iraq reduced oil supplies to China in July 2021 by 19.3% year-on-year, to 4.672 million tons.

Kuwait, on the other hand, almost doubled the supply, to 4.162 million tons. Oman increased supplies by 6.8% to 3.675 million tons.

Based on the results of 7 months of 2021, the list of the largest oil suppliers to China looks similar, except for the absence of Kuwait, which is actively increasing supplies but is giving way to Angola and Brazil on an accrual basis.

Saudi Arabia has supplied 50.437 million tons of oil to China since the beginning of 2021, which is 0.2% less than in the first 7 months of 2020.

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