China's March crude oil imports from top supplier Saudi Arabia fell 1.6% from a year earlier, while purchases from No.2 supplier Russia rose 31%, Reuters' calculations based on customs data showed on Sunday.
BEIJING/SINGAPORE - China’s March crude oil imports from top supplier Saudi Arabia fell 1.6% from a year earlier, while purchases from No.2 supplier Russia rose 31%, Reuters’ calculations based on customs data showed on Sunday.
Shipments from Saudi Arabia were 7.21 million tonnes, or 1.7 million bpd, data from the General Administration of Customs showed. While state refiners mostly maintained deep production cuts in March to reduce their fuel stocks, independent plants cranked up run rates as the oil price plunge triggered partly by Saudi and Russian pledges to increase supply boosted refining margins.
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