China's crude oil imports from top supplier Saudi Arabia soared 38% in April from a year earlier, hitting the highest monthly volume since May 2020, according to Reuters' calculations based on official Chinese customs data.
Saudi shipments amounted to 8.93 million tonnes last month, equivalent to 2.17 million barrels per day , according to data from the Chinese General Administration of Customs.
Russian oil arrivals in April totalled 6.55 million tonnes, or 1.59 million bpd, data showed, up slightly from 1.5 million bpd in March and 1.53 million bpd a year earlier. Despite U.S. sanctions on Iran, China has kept taking Iranian oil, usually passed off as supplies from other countries. The import levels are roughly equivalent to 7% of China's total crude oil imports.Iranian oil, often priced lower than competing grades, has squeezed out rival supplies from producers such as from Brazil and West Africa.
Imports from Malaysia, often used as a transfer point in the last two years for oil originating from Iran and Venezuela, jumped 84% on year to 2.165 million tonnes, the second highest on record.
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