Saudi Arabia kept its ranking as China’s top crude supplier for a ninth straight month in August as major producers relaxed production cuts. Saudi oil arrivals surged 53% from a year earlier to 8.06 million tonnes, or 1.96 million b/d. That compares with 1.58 million b/d in July and 1.24 million b/d in August last year. OPEC and its allies decided in July to ease production cuts and increase supply by a further 2 million b/d.
- Saudi retains top spot in oil supplies to China with volumes up 53% y/y