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Russia overtakes Saudi Arabia to become China's top crude supplier in April

Petróleo

Platts Global Alert - Oil

Russia overtakes Saudi Arabia to become China's top crude supplier in April

China's crude oil imports from Russia rose 17.7% year on year to 7.2 million mt or 1.76 million b/d in April, resulting in Russia overtaking Saudi Arabia to become the country's top supplier in the month, latest data from China's General Administration of Customs showed.

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Crude imports from Norway jumped to 1.58 million mt in April from zero a year earlier, the data showed.

The increase in inflow from the two countries gave Europe a 22.3% market share of China's imports over January-April at 37.44 million mt (2.27 million b/d), up from 17.9% a year earlier.

In contrast, China's imports from Saudi Arabia, fell 18% on year to 5.16 million mt or 1.26 million b/d in April.

That decline reduced the total supply from OPEC members by 9.7% on year to 87.52 million mt (5.3 million b/d) over January-April, despite an increase in cargo arrivals from Iraq, Kuwait and UAE of 11%-54% over the same period.

China's main crude suppliers

(Unit: '000 mt)

Apr-20
Apr-19
% change
Mar-20
% change
Russia
7,204
6,123
17.7%
7,020
2.6%
Saudi Arabia
5,161
6,294
-18.0%
7,210
-28.4%
Iraq
3,991
3,314
20.4%
5,599
-28.7%
Oman
3,835
3,067
25.1%
2,282
68.1%
Angola
3,405
4,469
-23.8%
3,990
-14.7%
UAE
3,081
777
296.5%
1,628
89.2%
Brazil
2,240
3,514
-36.3%
3,243
-30.9%
Norway
1,583
0
NA
1,295
22.3%
Malaysia
1,578
501
215.2%
1,052
50.0%
Kuwait
1,571
2,383
-34.1%
1,966
-20.1%
Total*
40,431
43,722
-7.5%
41,097
-1.6%
Total* '000 b/d
9,879
10,683
-7.5%
9,718
1.7%

Jan-Apr 20
Market share
Jan-Apr 19
Market share
Vol change
Russia
28,277
16.9%
24,183
14.7%
16.9%
Saudi Arabia
27,110
16.2%
25,336
15.4%
7.0%
Iraq
20,215
12.1%
14,709
8.9%
37.4%
Angola
13,708
8.2%
17,149
10.4%
-20.1%
Brazil
13,141
7.8%
14,246
8.6%
-7.8%
Oman
12,093
7.2%
10,337
6.3%
17.0%
Kuwait
8,075
4.8%
7,284
4.4%
10.9%
UAE
7,967
4.8%
5,175
3.1%
54.0%
Malaysia
6,210
3.7%
1,895
1.1%
227.6%
Norway
5,028
3.0%
36
0.0%
13799.0%
Total*
167,610
100.0%
164,883
100.0%
1.7%
Total* '000 b/d
10,154
100.0%
10,072
100.0%
0.8%

Note: * include other suppliers

Source: GAC