 |
Louisiana Light • 2 days | 84.39 | +0.14 | +0.17% | ||
|
Bonny Light • 2 days | 84.86 | -0.57 | -0.67% | ||
|
Opec Basket • 2 days | 84.23 | -2.94 | -3.37% | ||
|
Mars US • 182 days | 77.26 | -1.51 | -1.92% | ||
|
Gasoline • 10 mins | 2.551 | -0.046 | -1.76% |
|
Bonny Light • 2 days | 84.86 | -0.57 | -0.67% | ||
|
Girassol • 2 days | 85.78 | -0.59 | -0.68% | ||
|
Opec Basket • 2 days | 84.23 | -2.94 | -3.37% |
|
Peace Sour • 15 hours | 72.15 | -0.05 | -0.07% | ||
|
Light Sour Blend • 15 hours | 75.20 | -0.05 | -0.07% | ||
|
Syncrude Sweet Premium • 15 hours | 82.15 | -0.05 | -0.06% | ||
|
Central Alberta • 15 hours | 72.55 | -0.05 | -0.07% |
|
Eagle Ford • 2 days | 75.43 | -0.05 | -0.07% | ||
|
Oklahoma Sweet • 2 days | 75.50 | +0.00 | +0.00% | ||
|
Kansas Common • 4 days | 72.25 | -0.75 | -1.03% | ||
|
Buena Vista • 5 days | 87.60 | -1.22 | -1.37% |
Breaking News:
U.S. Oil, Gas Drillers See Continued Slowdown
The total number of active…
How Central Asian Countries Are Courting Western Trade and Investment
Central Asian states are easing…
Russia Extends Its Lead As China’s Top Oil Supplier
Russia was ahead of Saudi Arabia in the race to be China’s top crude oil supplier in October, according to official Chinese data reported by Reuters.
Yet, Chinese imports from both Russia and Saudi Arabia declined year over year in October as crude imports in the world’s top oil importer slowed down markedly last month from the previous months.
Chinese crude oil imports in October were 10 million bpd, down by 12.2 percent from September, due to independent refiners using up 2020 import quotas and storage nearing capacity.
The top two suppliers to China in October, and throughout this year, were the two leaders of the OPEC+ pact, OPEC’s top producer Saudi Arabia, and the leader of the non-OPEC group in the alliance, Russia.
The two countries are once again vying for the top spot among China’s suppliers.
In October, Chinese crude oil imports from Russia averaged 1.56 million bpd, according to data in tons from the General Administration of Customs converted into barrels per day by Reuters. China’s imports from Russia dropped by 4.4 percent last month compared to October 2019.
Chinese oil imports from Saudi Arabia plunged by 29 percent in October 2020, but the Saudis were still the second-largest oil supplier to China, with 1.4 million bpd.
Related: EIA Sees WTI Crude Averaging $44 In 2021
Iraq, Angola, and Brazil completed the top five oil suppliers to China in October, according to the customs data.
In the race for China’s top oil supplier, Russia is currently in the lead, but Saudi Arabia is doing its best to push ahead.
Analytic data cited by Reuters last week showed that Russia exported an average of 1.7 million bpd of crude oil to China during the first 11 months of the year, with Saudi Arabia just a little bit behind, with an average export rate of between 1.6 million bpd and 1.7 million bpd.
ADVERTISEMENT
By Tsvetana Paraskova for Oilprice.com
More Top Reads From Oilprice.com:
- Why China Can’t Quit Coal
- The Secret Weapon That Will Save Oil & Gas Pipeline Operators Billions
- Can Big Oil Make Carbon Capture Mainstream?
Tsvetana Paraskova
Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.
Related posts
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
