Saudi Arabia’s crude oil exports to China are set to fall in September, slipping from a more than two-year high in August after the world’s largest exporter raised prices, several trade sources said on Monday.
State oil firm Saudi Aramco will ship about 43 million barrels to China in September, or 1.43 million barrels per day (bpd), a tally of allocations to Chinese refiners showed.
That is down from 1.65 million bpd allocated in August.
Companies which planned to reduce Saudi crude liftings in September include Asia’s top refiner Sinopec and its Fujian Refinery joint venture with Saudi Aramco, the sources said.
PetroChina and Shenghong Petrochemical will also slightly reduce volumes in September from August, they added.
Separately, several Indian refiners were allotted full volumes for September and did not request more supply, despite uncertainties around Russian crude imports after U.S. President Donald Trump’s warnings against buying oil from Moscow, three sources familiar with the matter said.
Last week, Saudi Aramco hiked its September crude prices for Asian buyers for the second month in a row on robust demand.
The price of flagship Arab Light crude rose to $3.20 a barrel above the average Oman/Dubai quotes, the highest premium since April, Reuters data showed.
Source : Reuters
Trump embarks on the first visit by a U.S. president to China in nearly a…
The surge in energy prices since March 2026 has revived questions about the pass-through to…
Emissions trading systems have been widely studied globally, but less attention has been paid to…
Given the likelihood of elevated inflation readings, the CPI on Tuesday and PPI on Wednesday.…
Oil rises, stocks fall as Middle East ceasefire falters and Strait of Hormuz remains blocked.…
Trump to visit China this week, to discuss Iran with Xi. Gold fell from a…