Russia elbows Saudi Arabia aside as China’s top crude oil supplier in March

25 Apr 2017   China, Russia

Workers look at a drilling rig at a well pad of the Rosneft-owned Prirazlomnoye oil field outside the West Siberian city of Nefteyugansk, Russia, August 4, 2016. Russia reclaimed its position as China’s biggest crude oil supplier in March, customs data showed on Tuesday, displacing Saudi Arabia after two months in second place as Moscow fights to hang on to its slice of the Chinese market. Russian shipments grew nearly 1 percent to 1.104 million barrels per day (bpd) from the same month a year earlier, as China’s private refineries maintained high processing rates and restocked inventories after receiving fresh 2017 import quotas. China’s crude imports rose to a record in March, overtaking the United States and shattering expectations. Saudi shipments were 1.072 million barrels in March, up nearly 15 percent from a year ago, the General Administration of Customs said. For the first three months, Saudi arrivals stood […]

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