China’s Oil Imports From Saudi Arabia Jump To Record High

As China imported its highest-ever volume of crude oil in May, its imports from the world’s top oil exporter, Saudi Arabia, nearly doubled to the highest on record after fuel demand in the world’s top oil importer recovered and refiners purchased crude at bargain prices in April. Chinese imports of crude oil from OPEC’s largest producer, Saudi Arabia, surged by 94.9 percent on the year and by 71 percent on the month in May, to reach 2.16 million barrels per day (bpd), according to data from China’s General Administration…