US EditionSaudi Oil Exports to China Set to Halve as War Upends Supply and Prices
Aramco raised Asia prices to a record premium, and Yanbu cannot absorb all barrels diverted from the Persian Gulf, traders said.
- On Monday, traders reported Saudi Arabia will halve May crude shipments to China to around 20 million barrels, down from roughly 40 million barrels allocated in April.
- President Donald Trump announced a U.S. naval blockade on Sunday, while the near-closure of the Strait of Hormuz has forced tankers in the Persian Gulf to seek alternative routes.
- Saudi Aramco hiked Arab Light prices to record premiums last week, while the Kingdom's Red Sea port of Yanbu has insufficient capacity—around 5 million barrels daily—to replace lost Gulf volumes.
- Asian refiners face limited access to Arab Light, now offered exclusively via the Red Sea, while benchmark prices for Dubai and Oman crude have become erratic due to severe supply shortages.
- Diplomatic talks in Pakistan failed over the weekend with no agreement, and the Middle East war shows no signs of easing. Gulf exporters must navigate significant logistical challenges as supplies remain constrained indefinitely.
12 Articles
12 Articles
Saudi Oil Exports to China Set to Halve as War Upends Supply and Prices
Saudi Arabia is expected to ship in May halve the crude volumes to China it supplies in April as the Kingdom hiked its official selling prices while part of the supply is trapped in the Middle East due to the war. Saudi Arabia, the single biggest crude oil exporter in the world, is expected to send about 20 million barrels of crude to China next month, anonymous trading sources with knowledge of the matter told Bloomberg on Monday. The volumes i…
Saudi Oil Exports to China Slashed Amid Middle East Conflict
Saudi Arabia is reportedly halving its crude oil sales to China as geopolitical tensions in the Middle East impact supply chains and drive up prices. According to traders, Saudi Aramco will ship about 20 million barrels to China in May, down from 40 million barrels in April.
Saudi crude sales to China forecast to halve in May
Saudi Arabia’s oil exports to China are expected to halve in May due to the Middle East conflict, according to a news report. Crude sales to China are likely to reach 20 million barrels next month, down from 40 million barrels allocated for loading in April, Bloomberg reported, quoting unidentified traders. Lower sales are driven by Saudi Aramco’s decision to raise crude prices due to the Iran war, which has led to the near-closure of the Strait…
Saudi Oil Exports to China to Halve Amid Hormuz Crisis and Rising Prices
Archyde Saudi Arabia is halving its crude oil exports to China as a geopolitical crisis in the Strait of Hormuz drives global prices higher. This strategic pivot allows Riyadh to capture ... Read More The post Saudi Oil Exports to China to Halve Amid Hormuz Crisis and Rising Prices appeared first on Archyde.
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