Saudi Arabia remained China’s top oil suppliers in 2022, followed by Russia
COMMODITIES DATA
Saudi Arabia remained China’s top oil suppliers in 2022, followed by Russia
COMMODITIES DATA

Saudi Arabia remained China’s top oil suppliers in 2022, followed by Russia

 

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Saudi Arabia remained the top oil suppliers to China followed by Russia, as Chinese refiners snapped up low-cost Russian supplies while Western countries imposed sanctions on Russia oil after the Ukraine crisis.

China’s crude oil imports from Russia jumped 8% in 2022 from a year earlier to 86.25 million tonnes, equivalent to 1.72 million barrels per day (bpd), data from the General Administration of Customs showed on Friday. In December, it brought in 6.47 million tonnes of crude oil from Russia, or 1.52 million bpd, compared to 1.7 million bpd in the same period in 2021.

Saudi Arabia shipped a total of 87.49 million tonnes of crude to China in 2022, equivalent to 1.75 million bpd, on par with the level in 2021.

Crude imports from Malaysia almost doubled in 2022 to 35.68 million tonnes. No Venezuelan crude imports were recorded and a total of 780,392 tonnes of crude oil from Iran arrived in China. Crude shipments from the US reached 7.89 million tonnes in 2022, down 31% year-on-year.