Russia has overtaken Saudi Arabia in oil supplies to China
Russia, after a year and a half break, has again become the main exporter of oil to China, overtaking Saudi Arabia, follows from the data on China's foreign trade for May. According to Reuters, in May Russia exported 8.42 million tons of oil to China, which is 55% more than in the same period a year ago. Saudi Arabia shipped 7.82 million tons of oil to China in May (+9% yoy). Compared to April, deliveries of Russian oil to China also increased - to 1.98 million b/d from 1.59 million b/d.