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15-01-14

KSA's volume of oil exports to China to remain unchanged in 2014

(MENAFN) The volume of Saudi Arabia's oil shipments to China will remain the same this year as it was in 2013, Arab News reported. The kingdom has been left with small room to up its oil exports to China as Iraq is offering cheaper prices and better payment terms to Asian buyers this year, and two new refineries in China are set to run on crude from suppliers in Kazakhstan, Russia and the Middle East. Despite the fact that Saudi Arabia's oil exports to China will remain unchanged, it will remain China's leading crude supplier. A Beijing trader said: "None of the lifters have requested any additional volume for next year."