Saudi Arabia Overtakes Russia as China’s Top Oil Supplier

by Joseph Saraceno

-1x-1Saudi Arabia has reclaimed the mantle from Russia as China’s top crude supplier. Oil imports from Saudi Arabia rose 12 percent month-on-month to 4.57 million metric tons (1.12 million barrels a day) in June, the highest since February, while imports from Russia fell 22 percent. It’s the third time this year that the world’s largest oil-producing nation has out-supplied Russia. SOURCE