Russia becomes China’s top crude oil supplier in May
In May, China’s oil imports from Saudi Arabia fell behind supplies from Russia and Angola after reaching the highest level since June 2013 in April. Saudi Arabia exported 3.05 million tons of crude to China in May after shipping 5.26 million tons in April while Angola’s oil exports to China reached 3.26 million tons in May, according to data from China’s General Administration of Customs.
Meanwhile, Iran exported 2.2 million tons of crude to China in May. Iran aims to increase its exports to China and other global markets in anticipation that sanctions will be lifted following the finalization of an Iranian nuclear deal by June 30.
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