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FinancialNews


  • 21-09-21

    Saudi Arabia maintains its ranking as China's top crude supplier

    (MENAFN)The world's biggest oil exporter, Saudi Arabia, maintained its ranking as China's top crude supplier for a ninth straight month in last month as major producers loosened production cuts.

    According to data from the General Administration of Customs, Saudi oil arrivals increased 53 percent from a year earlier to 8.06 million tons, or 1.96 million barrels per day (bpd).

    That compares with 1.58 million bpd in July and 1.24 million bpd in August 2020.

    The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, decided in July to loosen production cuts and raise supply by a further 2 million bpd, adding 0.4 million bpd a month from August until December.

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