The latest data from General Administration of Customs showed Saudi Arabia remained China's top crude oil supplier in March, despite arrivals slipping 1.6 percent year on year to 1.7 million b/d or 7.21 million mt. The year-on-year fall was mainly due to a high base in the same month of last year, which was 1.73 million b/d.
From Saudi Arabia, China's crude imports rose 14 percent to 1.77 million b/d from January to March. The country's crude imports from Saudi Arabia totalled 21.95 million mt in the same period.
China's crude imports, as a result, went up 10.4 percent and rose to 4.8 million b/d in Q1 from the Middle East. Despite Saudi Aramco slashed the pricing of its crude exports for April, April-loading cargoes from the kingdom were likely to be flat month-on-month.
In March, some Chinese crude buyers turned to sour Russian Urals for April loading. From 1.66 million b/d in March, this would help to boost shipments from Russia in the coming month. GAC data showed crude imports from the US in Q1 were zero.
