Saudi Arabia remains top oil supplier to China in 2021

 Oil tankers

Saudi Arabia retained its top ranking in Chinese oil supplies in 2021, with supplies up 3.1% year-on-year (YoY), Reuters reported, citing customs data.

Thus, Saudi Arabia increased its share to 17% of total Chinese imports. 

Last year, China brought in 87.58 million tons of crude oil, or 1.75 million barrels per day (bpd) from Saudi Arabia, compared to 84.92 million tons in 2020, when Saudi Arabia held 16% of the Chinese market.  

Russia came in second with supplies contracting 4.7% to 79.65 million tons, or 1.59 million bpd, on weaker demand from China’s independent refiners.

Iraq came in the third place, with its supplies falling 10% YoY to 54.13 million tons.

Brazil dropped from the fourth to the seventh place last year, with supplies down 28% to 30.28 million tons.

Imports from Oman and Malaysia gained 18% and 50%, respectively.

US supplies slumped 42% to 11.47 million tons.