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China's reliance on Middle Eastern crude oil grew sharply in the first quarter of 2022, as the country reduced inflows from Russia, Brazil and the US, data from the General Administration of Customs showed. Middle Eastern oil exports are  5.35 Million barrels per day accounting for 47.5% of market share within China. Specifically, Oman, Iraq, UAE, and Kuwait all increased their exports to China in the three-month period during 2022's Q1 from 4.7% to 30.1%.   

China grows reliance on Middle Eastern crudes in Q1 as Russian inflows drop 11% | S&P Global Commodity Insights

China’s reliance on Middle Eastern crude oil grew sharply in the first quarter of 2022, as the country reduced inflows from Russia, Brazil and the US, data from the General Administration of Customs showed. Middle Eastern oil exports are  5.35 Million barrels per day accounting for 47.5% of market share within China. Specifically, Oman, Iraq, UAE, and Kuwait all increased their exports to China in the three-month period during 2022’s Q1 from 4.7% to 30.1%. 

 

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