Saudi Arabia remained top supplier to China for the first six months of 2021. With 1.77mn b/d, the kingdom extended its lead over Russia (1.62mn b/d) to 150,000 b/d versus 40,000 b/d for 1H 2020 (see table). Saudi Arabia has now been top ahead of Russia for the last eight straight months.
This was despite both Saudi Arabia and Russia seeing their supplies to the Middle Kingdom fall year-on-year for 1H 2021: China’s imports from Russia were down 8.8%, whilst Saudi volumes were down 2.4%. China’s overall imports fell by 2% to 10.57mn b/d for the first half of 2021 as a whole amid a stock drawdown that came on the back of record imports in Q2 last year (MEES, 16 July). (CONTINUED - 547 WORDS)
