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Saudi Arabia beats Russia in tight race for China oil supply, U.S. imports soar
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Last Updated: Jan 20, 2021, 10:29 AM IST
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Annual Saudi shipments to China in 2020 were 84.92 million tonnes, or about 1.69 million barrels per day, data from the General Administration of Chinese Customs showed, up 1.9% from a year earlier. Russia came in a close second with shipments of 83.57 million tonnes, or 1.67 million bpd, up 7.6% from 2019, the data showed.
Reuters Saudi Arabia has played catch up as a supplier since November with steep cuts in prices to woo customers, overtaking Russia, which had led for most of 2020 with more flexible logistics and geographical proximity to Chinese refiners.
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