Saudi crude export to China hits ‘record’ level after Iran sanctions: report
China imported a record 1.89 million barrels a day from Saudi Arabia last month, following US sanctions on Iran, Bloomberg reported, citing the country’s General Administration of Customs.
Shipments from the Kingdom made up almost a fifth of its total oil purchases in June and was 64 percent higher than the previous month. Imports accounted for 19.5 percent of China’s total purchases in June, the highest ratio since 2013.
China also boosted its purchases from other key suppliers last month. Imports from Russia rose to 7.15 million tons, while shipments from Angola increased to 4.43 million tons. Imports from Venezuela climbed to 1.13 million tons, compared with almost 800,000 barrels in the previous month.