Russia Overtakes Saudi Arabia As The Largest Oil Exporter To China

Russia became the top crude oil supplier to China last month, overtaking Saudi Arabia with an average of 1.75 million bpd versus 1.26 million bpd for Saudi Arabia, Reuters has reported, citing customs data. In fact, last month Saudi Arabia fell to the third spot among Chinese oil suppliers, with Iraq taking number-two. This compares with 1.66 million bpd of Russian oil imports in March and 1.7 million bpd of Saudi oil imports, A comparison of the monthly averages shows a substantial decline in Saudi oil supplies to the world’s top importer.…