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China's crude oil imports from Saudi Arabia rise 8.8% in March


China s crude oil imports from Saudi Arabia rise 8.8% in March
Shipments from Saudi Arabia were 7.84 million tonnes, equivalent to 1.85 million barrels per day (bpd), data issued by China s General Administration of Customs showed on Tuesday
Reuters | April 20, 2021 | Updated 12:07 IST
China s crude oil imports from top supplier Saudi Arabia rose 8.8% in March from a year earlier, driven by strong demand and as shipments delayed due to a port congestion finally arrived. Imports from the United Arab Emirates also rose again, up 86%, as some Iranian barrels were believed to have slipped in.
Shipments from Saudi Arabia were 7.84 million tonnes, equivalent to 1.85 million barrels per day (bpd), data issued by China s General Administration of Customs showed on Tuesday, versus 1.7 million bpd a year earlier. The imports, however, slowed from 1.94 million bpd in February. ....

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China Is Buying Record Amounts of Iranian Oil


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China’s purchases of Iranian oil climbed to record highs in 2021, according to data from Refinitiv, a global provider of financial market data. Over the past 14 months, Iran sent 17.8 million tonnes (approximated 306,000 barrels per day) of crude oil to China. Three-quarters of these shipments were “indirect” imports that had been identified as coming from Malaysia, Oman, or the United Arab Emirates and primarily entered China via ports in Shandong and Liaoning provinces.
Official purchases accounted for only 25 percent of the imports tracked by Refinitiv as China has retained small volume purchases despite stringent U.S. sanctions imposed under the former Trump administration (which returned sanctions against Iran to levels in place before the Iran nuclear deal). These sanctions triggered a steep drop in Iranian oil exports, particularly in Asia, since late 2018. This latest data, however, suggests that China, and other Asia markets, may be hedging wit ....

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COVID-19 Impact: Oil Imports Suggest China & India Are On A Very Different Path To Recovery


COVID-19 Impact: Oil imports suggest China & India are on a very different path to recovery
The challenge facing India is its vast population and fractured politics that will make it difficult to roll out an effective country-wide vaccination program. It remains to be seen if its refiners have reason to regret its record-high crude imports for January.
Yaw Yan Chong
Source: Reuters
Asian powerhouses China and India have fared very differently against COVID-19 since the pandemic spread across the world, with China recovering from last April, while India remained mired in the outbreak until December, as reflected by their respective demand for crude oil. ....

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