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Saudi Arabia remains the top oil supplier to China in October

Oil prices fall due to the rapid spread of Omicron

Saudi Arabia remained the leading crude oil exporter to China for the eleventh straight month in October, according to Chinese customs data released today, Sunday.

According to figures from the General Administration of Customs of China, China’s total imports of Saudi oil increased to 7.1 million tonnes, or 1.67 million barrels per day, by the end of October 2021, up from 1.4 million barrels per day the previous month.

In September 2021, China imported 1.94 million barrels of Saudi crude per day.

In October 2021, China’s overall crude oil imports plummeted to their lowest level in three years, owing to a broad ceiling placed by Beijing on independent refinery imports.

China has not oiled from Iran or Venezuela since the beginning of 2021, according to official data; national oil companies have remained on the sidelines due to concerns about US sanctions, according to the agency.

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