Saudi crude exports to China fall in 2014

摘要

Singapore—Saudi Arabia remained China’s top supplier of crude oil in 2014, although total shipments fell 7.9% from the previous year to 49.66 million mt, or an average 997,319 b/d, detailed data from the General Administration of Customs showed late Saturday. This is the first time that China’s crude imports from the OPEC giant have contracted since 2007—when Platts started collecting Chinese oil data—and is also the first instance since 2010 that the Saudi volumes to China were below 1 million b/d. The drop came despite a 9.5% year-on-year rise in China’s total 2014 crude imports.