Russia continues to top the list of oil suppliers to China in October

It was stated in statements issued by the General Administration of Customs in China China’s total imports from Russia, including supplies via pipelines and sea shipments, reached 8.54 million metric tons, or 2.01 million barrels per day, last month.

But Russian shipments continued the downward trend recorded in the previous month, declining by 5.6 percent compared to the September level of 2.13 million barrels per day.

Total shipments from Saudi Arabia recorded 6.64 million tons, or 1.56 million barrels per day, shrinking 16.2 percent compared to the previous year. China’s imports of Saudi crude also fell over the past two months, with October levels falling by 2.5 percent compared to September.

And it was raised Saudi Arabia Official selling prices for Asian customers were renewed in October, continuing an upward pricing pattern that has been in effect since June. This prompted Chinese refiners to order fewer supplies and search for cheaper alternatives from the spot market.

Riyadh will continue to unilaterally reduce production by one million barrels per day until the end of the year, and Moscow has also pledged to extend the reduction in exports by 300,000 barrels per day until the end of the year.

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