• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 7 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 11 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 14 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 11 hours Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? . . . . China greatest threat next 50 years.
  • 3 hours Why is Strait of Hormuz the World's Most Important Oil Artery
  • 2 hours Level-Headed Analysis of the Future of U.S. Shale Oil Industry
  • 14 hours Struggle For Supremacy: Kremlin Condemns Alleged U.S. Ultimatum To Turkey Over Missile Deal
  • 8 hours Apple Bid To Buy Tesla in 2013 For $240 a Share
  • 12 hours Another surprise 'build'
  • 19 hours Solar Cheaper than Coal
  • 12 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 10 hours California's Oil Industry Collapses Despite Shale Boom
  • 11 hours IMO2020 To scrub or not to scrub
  • 11 hours IMO 2020 could create fierce competition for scarce water resources
  • 12 hours Global Warming Making The Rich Richer
  • 1 day Misunderstanding between USA and Iran the cause of current stand off, I call BS
Saudi Arabia Scrambles To Calm Oil Markets

Saudi Arabia Scrambles To Calm Oil Markets

Saudi Arabia stated that it…

Angola Was China’s Largest Foreign Crude Supplier In September

China oil

Angola overtook Russia as China’s biggest oil supplier last month, exporting 1.02 million barrels per day to the Asian country, up by 45.8 percent on the year, Reuters reported on Monday, citing Chinese customs data.

In comparison, China’s imports of Russian oil dropped by 2.14 percent to 962,620 bpd in September. Shipments of Saudi oil to China went down 1.29 percent to 949,500 bpd, while China’s Iraqi imports soared 58.4 percent to come in at 989,400 bpd.

On an annual basis, Saudi Arabia managed to eke out the win as China’s the number-one foreign supplier of oil, with an average 1.03 million bpd of oil imports, while Angola ranked third on a year-to-date basis, with 916,229 bpd in average oil imports, up 17.7 percent annually.

Last month’s high Angolan shipments to China should not come as a complete surprise, because Angola had also topped the Chinese foreign oil suppliers’ list in July, edging out the two traditional contesters for Chinese market share, Russia and Saudi Arabia.

Then in August, Russia reclaimed its top spot among the foreign oil suppliers to China, having boosted its exports to the Asian country by 50.2 percent annually to 1.09 million bpd.

Related: The $1.7 Trillion Oil Industry Isn’t Going Anywhere

According to a Reuters survey from September, oil traders such as Trafigura and Gunvor were expected to contribute to a five-month high in shipments from Africa’s west coast to the east last month.

In the past two months, China has been steadily increasing its total oil imports. Chinese imports of crude oil in August stood at 7.77 million bpd, the highest crude import trend since April, on the back of declining domestic production and increased demand from small refineries.

Then in September, China’s total imports jumped to a record 8.08 million bpd, as the country continued to fill in strategic reserves and refineries came out of seasonal maintenance.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News