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Friday, January 26, 2018

Russia Remains China's Largest Oil Supplier for 10th Month

Russia held firm as China’s top crude oil supplier in December for the 10th month and racked up its second year as the No.1 supplier to China in 2017, customs data showed, leaving rival exporter Saudi Arabia in second place once more.

Shipments from Russia hit 5.03 million tonnes in December, down 0.2 percent from a year earlier, pushing up its full-year supply by 13.8 percent to 59.7 million tonnes, or 1.194 million barrels per day (bpd).

Saudi Arabia’s December shipments were up 31.7 percent from a year ago at 4.71 million tonnes, or about 1.11 million bpd.

Whole-year shipments from the Kingdom, OPEC’s top supplier, grew 2.3 percent to 52.18 million tonnes, or 1.044 million bpd, the data from the General Administration of Customs showed.

Source: Reuters