During The Production Cut, Saudi Arabia Mainly Exports Oil To China

Early observations of Saudi Arabia ’s crude oil exports in May showed that although China has just recovered from the new crown epidemic, the historic production cuts have not contained the momentum of Saudi Arabia ’s massive oil exports to China. Oil depot records and equipment data show that as of May 28, Saudi Arabia delivers about 2.1 million barrels of oil to China every day, and it may rise in the next few days. In comparison, it was 2.3 million barrels in April, the highest value since shipments in early 2017, and the third time during this period that the average daily export to China exceeded the 2 million mark.