Russia Ousts Saudi Arabia as China’s Top Oil Supplier

Russia Ousts Saudi Arabia as China’s Top Oil Supplier

Yicai Global

Date: Wed, 04/26/2017 - 16:04 / source:Yicai
Russia Ousts Saudi Arabia as China’s Top Oil Supplier
Russia Ousts Saudi Arabia as China’s Top Oil Supplier

(Yicai Global) April 26 -- Russia last month became China’s largest crude oil supplier again, pushing Saudi Arabia into third place.

The world’s biggest energy consumer imported 4.69 million tons of oil from Russia in March, a gain of 9.3 percent on February and 0.9 percent from a year earlier, according to data published yesterday by the General Administration of Customs. 

Saudi Arabia, the world’s top oil exporter, saw its shipments of the fuel to the world’s second-largest economy drop 4.6 percent to 4.55 million tons.

Angola ranked second with 4.67 million tons, marking a month-on-month increase of 43.3 percent and a year-on-year gain of 29.1 percent.

Oil ministers from the Organization of Petroleum Exporting Countries and other major oil-producing nations will meet next month. Some OPEC members are considering whether to extend an agreed production cut beyond its June deadline.

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Keywords: China, Saudi Arabia, RUSSIA, Business, Trade, Oil, Angola