Saudi Arabia crude exports to China plunge in June
Updated
Updated · Bloomberg · May 11
Saudi Arabia crude exports to China plunge in June
10 articles · Updated · Bloomberg · May 11
June loadings are set at about 13 million to 14 million barrels, down from roughly 20 million in May, traders briefed by the producer said.
The drop would deepen an already sharp decline in shipments to the world's biggest crude importer and leave Saudi volumes far below recent norms.
Before the Iran war, the kingdom typically sent about 40 million to 50 million barrels a month to China, highlighting the scale of the current contraction.
Can Saudi Arabia's Red Sea pivot overcome the Hormuz blockade before global oil markets collapse?
Is China's energy resilience a sign of strength or a strategic play to reshape global power?